Reed’s, Inc. (NYSEAMERICAN:REED) Director John Bello purchased 46,240 shares of Reed’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $2.25 per share, for a total transaction of $104,040.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
NYSEAMERICAN REED traded down $0.01 on Friday, hitting $2.09. 1,200 shares of the stock were exchanged, compared to its average volume of 157,908. Reed’s, Inc. has a 52-week low of $1.90 and a 52-week high of $4.05.
Reed’s (NYSEAMERICAN:REED) last posted its quarterly earnings data on Tuesday, August 13th. The consumer goods maker reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $9.48 million for the quarter, compared to the consensus estimate of $10.32 million.
Several equities research analysts recently weighed in on REED shares. R. F. Lafferty started coverage on shares of Reed’s in a research report on Friday, May 10th. They issued a “buy” rating and a $5.00 price target on the stock. Zacks Investment Research upgraded shares of Reed’s from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Lake Street Capital began coverage on shares of Reed’s in a research report on Friday, April 26th. They issued a “buy” rating and a $6.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Reed’s presently has an average rating of “Buy” and an average price target of $5.06.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Handelsinvest Investeringsforvaltning boosted its stake in shares of Reed’s by 300.0% during the second quarter. Handelsinvest Investeringsforvaltning now owns 20,000 shares of the consumer goods maker’s stock valued at $76,000 after purchasing an additional 15,000 shares during the period. Virtu Financial LLC purchased a new stake in shares of Reed’s during the first quarter valued at $61,000. MYDA Advisors LLC purchased a new stake in shares of Reed’s during the first quarter valued at $72,000. Wells Fargo & Company MN boosted its stake in shares of Reed’s by 2,677,900.0% during the second quarter. Wells Fargo & Company MN now owns 26,780 shares of the consumer goods maker’s stock valued at $101,000 after purchasing an additional 26,779 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Reed’s by 30.6% during the fourth quarter. Northern Trust Corp now owns 29,842 shares of the consumer goods maker’s stock valued at $61,000 after purchasing an additional 7,000 shares during the period.
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.
Further Reading: What is the 52-week high/low?
Receive News & Ratings for Reed's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reed's and related companies with MarketBeat.com's FREE daily email newsletter.