Reed's, Inc. (REED) Sees Significant Decline in Short Interest
Reed's, Inc. (NYSEMKT:REED) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 465,051 shares, a decrease of 11.0% from the August 15th total of 522,561 shares. Currently, 4.4% of the company’s stock are short sold. Based on an average trading volume of 62,597 shares, the days-to-cover ratio is currently 7.4 days.
Several research analysts recently issued reports on REED shares. Maxim Group reissued a “buy” rating and set a $7.00 target price (down from $10.00) on shares of Reed's in a research note on Monday, June 6th. Wunderlich reissued a “buy” rating and set a $8.00 target price (down from $10.00) on shares of Reed's in a research note on Friday, August 5th. Finally, Zacks Investment Research raised shares of Reed's from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th.
Reed's (NYSEMKT:REED) opened at 3.41 on Tuesday. The company’s market capitalization is $47.43 million. The company’s 50-day moving average is $2.91 and its 200 day moving average is $3.66. Reed's has a 52 week low of $2.25 and a 52 week 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) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.01. On average, analysts forecast that Reed's will post ($0.17) EPS for the current fiscal year.
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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