Reed’s, Inc. (NYSEAMERICAN:REED) Insider Christopher J. Reed Sells 5,043 Shares
Reed’s, Inc. (NYSEAMERICAN:REED) insider Christopher J. Reed sold 5,043 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $3.35, for a total transaction of $16,894.05. Following the completion of the transaction, the insider now directly owns 1,488,323 shares in the company, valued at $4,985,882.05. The sale was disclosed in a document filed with the SEC, which is available at this link.
REED traded up $0.01 during trading on Thursday, reaching $3.37. The company’s stock had a trading volume of 7,426 shares, compared to its average volume of 155,073. Reed’s, Inc. has a 1 year low of $1.90 and a 1 year high of $4.05.
Reed’s (NYSEAMERICAN:REED) last released its earnings results on Tuesday, May 14th. The consumer goods maker reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.03). The business had revenue of $8.45 million for the quarter, compared to analyst estimates of $8.14 million.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp increased its holdings in shares of Reed’s by 30.6% during the 4th quarter. Northern Trust Corp now owns 29,842 shares of the consumer goods maker’s stock worth $61,000 after buying an additional 7,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Reed’s during the 1st quarter worth approximately $61,000. MYDA Advisors LLC acquired a new stake in shares of Reed’s during the 1st quarter worth approximately $72,000. Handelsbanken Fonder AB acquired a new stake in shares of Reed’s during the 1st quarter worth approximately $87,000. Finally, First Manhattan Co. acquired a new stake in shares of Reed’s during the 1st quarter worth approximately $98,000.
Reed's, Inc develops, manufactures, markets, and sells natural hand-crafted beverages and candies in the United States, Canada, Asia, Europe, Australia, and South America. Its products include Reed's ginger beers; Virgil's root beer and cream sodas; Flying Cauldron Butterscotch Beer; and Sonoma Sparkler branded sparkling juices.
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