Reed’s, Inc. (NYSEAMERICAN:REED) insider Christopher J. Reed sold 7,305 shares of Reed’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $3.33, for a total transaction of $24,325.65. Following the completion of the sale, the insider now directly owns 1,497,470 shares of the company’s stock, valued at approximately $4,986,575.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
NYSEAMERICAN:REED traded down $0.06 during trading hours on Tuesday, reaching $3.30. The company had a trading volume of 36,200 shares, compared to its average volume of 156,020. Reed’s, Inc. has a 52 week low of $1.90 and a 52 week high of $4.05.
Reed’s (NYSEAMERICAN:REED) last issued its quarterly earnings data on Tuesday, May 14th. The consumer goods maker reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The firm had revenue of $8.45 million for the quarter, compared to analysts’ expectations of $8.14 million.
Several hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB lifted its stake in Reed’s by 1,900.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 600,000 shares of the consumer goods maker’s stock worth $2,268,000 after purchasing an additional 570,000 shares in the last quarter. MYDA Advisors LLC purchased a new stake in Reed’s in the 1st quarter worth $72,000. Royce & Associates LP purchased a new stake in Reed’s in the 1st quarter worth $479,000. Virtu Financial LLC purchased a new stake in Reed’s in the 1st quarter worth $61,000. Finally, First Manhattan Co. purchased a new stake in Reed’s in the 1st quarter worth $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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