Reed's, Inc. (REED) Director Purchases $49,980.00 in Stock
Reed's, Inc. (NYSE:REED) Director John Bello purchased 29,400 shares of Reed's stock in a transaction on Friday, August 25th. The shares were acquired at an average price of $1.70 per share, for a total transaction of $49,980.00. Following the completion of the transaction, the director now directly owns 19,355 shares of the company’s stock, valued at $32,903.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Reed's, Inc. (NYSE REED) opened at 2.10 on Thursday. The company’s market capitalization is $31.78 million. The firm’s 50-day moving average is $1.75 and its 200-day moving average is $3.06. Reed's, Inc. has a 12 month low of $1.50 and a 12 month high of $4.75.
Reed's (NYSE:REED) last announced its quarterly earnings data on Monday, August 14th. The consumer goods maker reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.33. The company had revenue of $8.86 million for the quarter. Equities analysts anticipate that Reed's, Inc. will post ($0.25) EPS for the current fiscal year.
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Separately, Maxim Group reduced their price target on shares of Reed's to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, August 15th.
A number of institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new stake in Reed's during the second quarter valued at about $1,086,000. Vanguard Group Inc. boosted its stake in Reed's by 9.1% in the second quarter. Vanguard Group Inc. now owns 253,466 shares of the consumer goods maker’s stock valued at $621,000 after buying an additional 21,200 shares during the period. North Star Investment Management Corp. boosted its stake in Reed's by 4.8% in the second quarter. North Star Investment Management Corp. now owns 204,824 shares of the consumer goods maker’s stock valued at $502,000 after buying an additional 9,410 shares during the period. Renaissance Technologies LLC boosted its stake in Reed's by 46.3% in the first quarter. Renaissance Technologies LLC now owns 87,900 shares of the consumer goods maker’s stock valued at $365,000 after buying an additional 27,800 shares during the period. Finally, FMR LLC boosted its stake in Reed's by 156.3% in the first quarter. FMR LLC now owns 514,064 shares of the consumer goods maker’s stock valued at $2,133,000 after buying an additional 313,492 shares during the period.
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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