Reed's, Inc. (REED) Sees Significant Decrease in Short Interest
Reed's, Inc. (NYSEAMERICAN:REED) saw a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 269,435 shares, a decline of 11.3% from the January 12th total of 303,914 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average trading volume of 70,440 shares, the short-interest ratio is presently 3.8 days.
Shares of Reed's (REED) opened at $1.70 on Wednesday. The firm has a market cap of $26.09, a P/E ratio of -2.50 and a beta of 0.78. Reed's has a fifty-two week low of $1.30 and a fifty-two week high of $4.75.
Reed's (NYSEAMERICAN:REED) last issued its quarterly earnings results on Monday, November 13th. The consumer goods maker reported ($0.07) earnings per share for the quarter.
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Reed's by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 253,466 shares of the consumer goods maker’s stock worth $621,000 after acquiring an additional 21,200 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Reed's during the 2nd quarter worth $1,086,000. Finally, AWM Investment Company Inc. acquired a new stake in Reed's during the 4th quarter worth $1,520,000.
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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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