Daniel V. Miles Acquires 5,000 Shares of Reed's, Inc. (REED) Stock

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Reed's, Inc. (NYSEMKT:REED) CFO Daniel V. Miles purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The shares were acquired at an average cost of $3.26 per share, for a total transaction of $16,300.00. Following the completion of the transaction, the chief financial officer now directly owns 25,000 shares of the company’s stock, valued at approximately $81,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several research analysts have weighed in on REED shares. Zacks Investment Research lowered Reed's from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. Wunderlich reaffirmed a “buy” rating and issued a $8.00 target price (down from $10.00) on shares of Reed's in a research report on Friday, August 5th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $7.00 target price (down from $10.00) on shares of Reed's in a research report on Monday, June 6th.
Shares of Reed's, Inc. (NYSEMKT:REED) opened at 3.53 on Tuesday. The company’s market cap is $49.10 million. The stock’s 50 day moving average price is $2.79 and its 200 day moving average price is $3.73. Reed's, Inc. has a 1-year low of $2.25 and a 1-year high of $6.91.

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Reed's (NYSEMKT:REED) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Equities research analysts forecast that Reed's, Inc. will post ($0.17) earnings per share for the current year.
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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