Reed’s (OTCMKTS:REED) Now Covered by StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Reed’s (OTCMKTS:REED) in a report issued on Monday. The firm set a “sell” rating on the stock.

Separately, Roth Capital reissued a “buy” rating on shares of Reed’s in a research note on Wednesday, April 23rd.

Reed’s Stock Performance

Shares of REED traded up $0.18 during trading hours on Monday, hitting $1.18. 8,820 shares of the company were exchanged, compared to its average volume of 8,282. The firm’s 50 day moving average is $1.51 and its 200-day moving average is $1.17. Reed’s has a 52 week low of $0.51 and a 52 week high of $1.93. The company has a market cap of $53.54 million, a PE ratio of -0.29 and a beta of 0.49.

Reed’s (OTCMKTS:REED) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The company had revenue of $10.03 million during the quarter, compared to analyst estimates of $9.85 million. As a group, equities analysts forecast that Reed’s will post -1.22 earnings per share for the current fiscal year.

About Reed’s

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.