Reeds’ (OTCMKTS:REED – Get Free Report) quiet period is set to end on Wednesday, January 14th. Reeds had issued 2,500,000 shares in its public offering on December 5th. The total size of the offering was $10,000,000 based on an initial share price of $4.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Analysts Set New Price Targets
Separately, Alliance Global Partners raised Reeds to a “strong-buy” rating in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, Reeds currently has an average rating of “Strong Buy” and a consensus target price of $10.50.
Read Our Latest Stock Analysis on REED
Reeds Trading Up 4.3%
Reeds (OTCMKTS:REED – Get Free Report) last issued its earnings results on Monday, November 3rd. The company reported ($0.48) EPS for the quarter. The firm had revenue of $7.03 million during the quarter. Reeds had a negative net margin of 42.48% and a negative return on equity of 358.36%. Sell-side analysts predict that Reeds will post -1.22 earnings per share for the current fiscal year.
About Reeds
Reed’s, Inc is a U.S.-based beverage company specializing in the development, production and distribution of craft soft drinks, mixers and functional beverages that feature real ginger and other natural ingredients. The company’s flagship Reed’s Ginger Brew line includes Original, Extra and Stronger formulations, each brewed using fresh ginger root to deliver a balance of spicy flavor and perceived health benefits. Reed’s also markets a portfolio of craft sodas under the Virgil’s brand, offering varieties such as Root Beer, Craft Cola and Vanilla Cream Soda without artificial sweeteners or preservatives.
Founded in 1989 by Christopher J.
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