Somewhat Positive News Coverage Somewhat Unlikely to Impact Reed's (REED) Share Price
News coverage about Reed's (NYSE:REED) has trended somewhat positive this week, according to Accern. The research group identifies negative and positive media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Reed's earned a news sentiment score of 0.11 on Accern’s scale. Accern also assigned media stories about the consumer goods maker an impact score of 46.3210438682036 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
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.
Shares of Reed's (NYSE:REED) opened at 2.30 on Friday. The stock’s 50 day moving average is $1.71 and its 200 day moving average is $2.99. The stock’s market cap is $34.81 million. Reed's has a 52-week low of $1.50 and a 52-week high of $4.75.
Reed's (NYSE:REED) last announced its earnings results on Monday, August 14th. The consumer goods maker reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.33. The firm had revenue of $8.86 million for the quarter. On average, equities analysts expect that Reed's will post ($0.25) earnings per share for the current fiscal year.
In other news, Director John Bello bought 29,400 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were purchased 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 owns 19,355 shares in the company, valued at $32,903.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
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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