Empery Asset Management LP purchased a new stake in shares of Reed’s, Inc. (NASDAQ:REED – Get Rating) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,400,000 shares of the company’s stock, valued at approximately $421,000. Reed’s accounts for approximately 2.0% of Empery Asset Management LP’s investment portfolio, making the stock its 14th biggest holding. Empery Asset Management LP owned 1.24% of Reed’s as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in REED. Northern Trust Corp grew its stake in shares of Reed’s by 60.3% during the 1st quarter. Northern Trust Corp now owns 851,068 shares of the company’s stock valued at $255,000 after purchasing an additional 320,000 shares during the period. Paradigm Financial Partners LLC grew its stake in shares of Reed’s by 600.0% during the 4th quarter. Paradigm Financial Partners LLC now owns 184,100 shares of the company’s stock valued at $65,000 after purchasing an additional 157,800 shares during the period. UBS Group AG grew its stake in shares of Reed’s by 178.9% during the 1st quarter. UBS Group AG now owns 102,548 shares of the company’s stock valued at $31,000 after purchasing an additional 65,773 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in shares of Reed’s by 44.7% during the 1st quarter. First Eagle Investment Management LLC now owns 159,170 shares of the company’s stock valued at $48,000 after purchasing an additional 49,170 shares during the period. 26.14% of the stock is currently owned by institutional investors.
Reed’s Stock Performance
Shares of NASDAQ:REED opened at $0.19 on Tuesday. The stock has a 50 day moving average of $0.19 and a 200 day moving average of $0.18. Reed’s, Inc. has a 12-month low of $0.14 and a 12-month high of $0.78.
Analysts Set New Price Targets
REED has been the subject of a number of recent research reports. Maxim Group cut their price objective on Reed’s to $0.75 and set a “na” rating for the company in a research note on Tuesday, May 17th. StockNews.com initiated coverage on Reed’s in a research note on Tuesday, August 9th. They set a “sell” rating for the company.
Reed's, Inc engages in the manufacture and distribution of natural hand-crafted beverages in the craft specialty foods industry in the United States, Canada, Asia, Europe, Australia, and South America. It offers Reed's craft ginger beers; Reed's real ginger ales; Reed's ready to drink products; Virgil's handcrafted sodas; ginger candy; and other ginger beverages under the Reed's brand.
- Get a free copy of the StockNews.com research report on Reed’s (REED)
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