Reed’s (OTCMKTS:REED) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Reed’s (OTCMKTS:REED) announced its earnings results on Tuesday. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01), Zacks reports.

Reed’s Trading Up 1.2%

Shares of Reed’s stock opened at $1.75 on Wednesday. The stock has a 50-day moving average price of $1.52 and a 200 day moving average price of $1.17. The company has a market cap of $79.40 million, a P/E ratio of -0.43 and a beta of 0.49. Reed’s has a 1 year low of $0.51 and a 1 year high of $1.93.

Analysts Set New Price Targets

Several equities research analysts have recently commented on REED shares. StockNews.com started coverage on Reed’s in a report on Tuesday. They set a “sell” rating for the company. Roth Capital reaffirmed a “buy” rating on shares of Reed’s in a report on Wednesday, April 23rd.

Reed’s Company Profile

Reed's, Inc engages in the manufacture and distribution of natural beverages in the United States. The company offers Reed's craft ginger beer; Reed's real ginger ales; Reed's Classic Mules; Reed's Hard Ginger Ale; Reed's ready to drink products; and Virgil's handcrafted sodas.