Reed's, Inc. (NYSEAMERICAN:REED) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 472,412 shares, a growth of 30.8% from the November 30th total of 361,151 shares. Based on an average daily volume of 99,769 shares, the days-to-cover ratio is currently 4.7 days. Approximately 5.1% of the company’s stock are short sold.
Reed's (NYSEAMERICAN:REED) remained flat at $$1.70 during trading hours on Thursday. The stock had a trading volume of 37,800 shares, compared to its average volume of 114,857. Reed's has a fifty-two week low of $1.30 and a fifty-two week high of $4.75. The firm has a market capitalization of $25.99, a P/E ratio of -2.50 and a beta of 0.84.
In related news, Director John Bello bought 266,403 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was bought at an average price of $1.50 per share, for a total transaction of $399,604.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Raptor/Harbor Reeds Spv Llc bought 2,666,667 shares of the business’s stock in a transaction dated Wednesday, December 27th. The shares were bought at an average price of $1.50 per share, with a total value of $4,000,000.50. Following the purchase, the insider now owns 3,433,334 shares in the company, valued at approximately $5,150,001. The disclosure for this purchase can be found here. Insiders have purchased 3,199,473 shares of company stock valued at $4,799,210 in the last 90 days.
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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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