Reed's, Inc. (NYSE:REED) had its price target reduced by stock analysts at Maxim Group to $3.50 in a report released on Tuesday. The brokerage presently has a “buy” rating on the consumer goods maker’s stock. Maxim Group’s target price would suggest a potential upside of 94.44% from the company’s previous close.
Separately, Zacks Investment Research cut Reed's from a “hold” rating to a “strong sell” rating in a report on Thursday, April 27th.
Shares of Reed's (NYSE:REED) opened at 1.80 on Tuesday. The company’s 50 day moving average price is $1.89 and its 200 day moving average price is $3.17. Reed's has a 12 month low of $1.50 and a 12 month high of $4.75. The stock’s market capitalization is $25.17 million.
Reed's (NYSE:REED) last posted its quarterly earnings results on Monday, August 14th. The consumer goods maker reported $0.25 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.33. The business had revenue of $8.86 million during the quarter. Equities analysts anticipate that Reed's will post ($0.25) earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of REED. Goldman Sachs Group Inc. purchased a new position in shares of Reed's during the second quarter valued at about $1,086,000. Vanguard Group Inc. boosted its position in shares of Reed's by 9.1% in the second quarter. Vanguard Group Inc. now owns 253,466 shares of the consumer goods maker’s stock valued at $621,000 after buying an additional 21,200 shares in the last quarter. North Star Investment Management Corp. boosted its position in shares of Reed's by 4.8% in the second quarter. North Star Investment Management Corp. now owns 204,824 shares of the consumer goods maker’s stock valued at $502,000 after buying an additional 9,410 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Reed's by 46.3% in the first quarter. Renaissance Technologies LLC now owns 87,900 shares of the consumer goods maker’s stock valued at $365,000 after buying an additional 27,800 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Reed's by 156.3% in the first quarter. FMR LLC now owns 514,064 shares of the consumer goods maker’s stock valued at $2,133,000 after buying an additional 313,492 shares in the last quarter.
Reed's Company Profile
Reed’s, Inc develops, manufactures, markets and sells natural non-alcoholic carbonated soft drinks, Kombucha, candies and ice creams. The Company manufactures, licenses, markets and sells several product lines, such as Reed’s Ginger Brews; Virgil’s Root Beer, Cream Sodas, Dr. Better and Real Cola, including ZERO diet sodas; Culture Club Kombucha; China Colas; Reed’s Ginger candy and ice creams, and Sonoma Sparkler and other juice based products.
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