Short Interest in Reed’s (REED) Decreases By 5.8%
Reed’s (NYSE:REED) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 404,817 shares, a decrease of 5.8% from the September 15th total of 429,929 shares. Currently, 4.2% of the company’s shares are sold short. Based on an average daily trading volume, of 105,508 shares, the short-interest ratio is currently 3.8 days.
A hedge fund recently raised its stake in Reed’s stock. Vanguard Group Inc. raised its stake in shares of Reed’s (NYSE:REED) by 5.8% during the second quarter, according to its most recent Form 13F filing 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 1.56% of Reed’s worth $535,000 at the end of the most recent reporting period.
Several equities research analysts have recently weighed in on REED shares. Zacks Investment Research cut Reed’s from a “hold” rating to a “sell” rating in a research note on Friday, August 12th. Wunderlich reissued a “buy” rating and issued a $8.00 price target (down previously from $10.00) on shares of Reed’s in a research note on Friday, August 5th.
Shares of Reed’s (NYSE:REED) opened at 4.03 on Wednesday. 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 $3.53 and its 200 day moving average price is $3.44. The company’s market cap is $56.05 million.
Reed’s (NYSE:REED) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. On average, equities analysts expect that Reed’s will post ($0.17) EPS for the current fiscal year.
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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