Reed’s (NYSE:REED) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 404,817 shares, a drop of 5.8% from the September 15th total of 429,929 shares. Approximately 4.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 105,508 shares, the short-interest ratio is currently 3.8 days.
Reed’s (NYSE:REED) opened at 4.03 on Wednesday. The stock’s market cap is $56.05 million. The stock has a 50 day moving average price of $3.53 and a 200 day moving average price of $3.44. Reed’s has a 12-month low of $2.25 and a 12-month high of $6.91.
Reed’s (NYSE:REED) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.01. On average, analysts forecast that Reed’s will post ($0.17) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Reed’s stock. Vanguard Group Inc. increased its stake in Reed’s (NYSE:REED) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 approximately 1.56% of Reed’s worth $535,000 at the end of the most recent quarter.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Reed’s from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th. Wunderlich reaffirmed a “buy” rating and set a $8.00 price target (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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