Reed’s (REED) Issues Earnings Results
Reed’s (NYSE:REED) announced its quarterly earnings data on Thursday. The company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.02.
Reed’s (NYSE:REED) traded up 1.74% during midday trading on Thursday, hitting $4.10. 214,456 shares of the stock were exchanged. The stock’s market cap is $57.02 million. Reed’s has a 52 week low of $2.25 and a 52 week high of $6.91. The firm’s 50-day moving average is $3.55 and its 200 day moving average is $3.45.
A number of equities research analysts have weighed in on the company. Wunderlich reaffirmed a “buy” rating and issued a $8.00 price objective (down previously from $10.00) on shares of Reed’s in a report on Friday, August 5th. Zacks Investment Research raised Reed’s from a “sell” rating to a “hold” rating in a report on Wednesday.
An institutional investor recently raised its position in Reed’s stock. Vanguard Group Inc. raised its stake in 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 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 as of its most recent SEC filing.
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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