Reed’s (REED) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Reed’s (NYSE:REED) from a sell rating to a hold rating in a report released on Wednesday.

According to Zacks, “Reed’s, Inc. develops, manufactures, and markets top selling sodas in natural foods markets and will is currently expanding its innovative, all natural, non-alcoholic beverages, candies and ice creams into the mainstream markets. Its non-alcoholic Ginger Brews are unique in the beverage industry being brewed from fresh ginger, spices and fruits. Award-winning gourmet product lines include: Reed’s Ginger Brews, Reed’s Ginger Juice Brews, Reed’s Ginger Candies and Reed’s Ginger Ice Creams. Additionally, the Company has acquired Virgil’s Root Beer and China Cola product lines. Reed’s products are sold through specialty gourmet and natural food stores, supermarket chains, retail stores and restaurants nationwide and in Canada. “

Separately, Wunderlich reiterated a buy rating and issued a $8.00 price objective (down previously from $10.00) on shares of Reed’s in a research report on Friday, August 5th.

Shares of Reed’s (NYSE:REED) opened at 4.25 on Wednesday. The company’s market cap is $59.11 million. Reed’s has a 12 month low of $2.25 and a 12 month high of $6.91. The company’s 50-day moving average price is $3.67 and its 200-day moving average price is $3.43.

Reed’s (NYSE:REED) last issued its quarterly earnings data on Thursday, October 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.02. The business earned $12.30 million during the quarter. Analysts anticipate that Reed’s will post ($0.17) EPS for the current year.

A hedge fund recently raised its stake 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. The firm 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 SEC filing.

About Reed’s

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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