Reed’s (NYSE:REED) released its quarterly earnings data on Thursday. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02.
Reed’s (NYSE:REED) traded up 1.74% on Thursday, reaching $4.10. 214,456 shares of the company’s stock traded hands. Reed’s has a 52-week low of $2.25 and a 52-week high of $6.91. The stock’s market capitalization is $57.02 million. The firm’s 50-day moving average is $3.55 and its 200 day moving average is $3.45.
An institutional investor recently raised its position in Reed’s stock. Vanguard Group Inc. boosted its position in shares of Reed’s (NYSE:REED) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 216,739 shares of the company’s stock after buying an additional 11,800 shares during the period. Vanguard Group Inc. owned 1.56% of Reed’s worth $535,000 as of its most recent filing with the SEC.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Reed’s from a “sell” rating to a “hold” rating in a research note on Wednesday. Wunderlich reiterated a “buy” rating and set a $8.00 price objective (down previously from $10.00) on shares of Reed’s in a research note on Friday, August 5th.
Reed’s Company Profile
Reed’s, Inc develops, manufactures, markets and sells natural non-alcoholic carbonated soft drinks, Kombucha, candies and ice creams. The Company manufactures, licenses, markets and sells several product lines, such as Reed’s Ginger Brews; Virgil’s Root Beer, Cream Sodas, Dr. Better and Real Cola, including ZERO diet sodas; Culture Club Kombucha; China Colas; Reed’s Ginger candy and ice creams, and Sonoma Sparkler and other juice based products.
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