StockNews.com Begins Coverage on Reed’s (NYSE:REED)

Equities research analysts at StockNews.com initiated coverage on shares of Reed’s (NYSE:REED) in a report released on Saturday. The brokerage set a “sell” rating on the stock.

Separately, Roth Mkm reduced their price target on Reed’s from $17.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, August 14th.

Reed’s Price Performance

Shares of Reed’s stock opened at $3.41 on Friday. The stock has a market cap of $8.87 million, a price-to-earnings ratio of -0.51 and a beta of 1.46. The firm’s 50-day moving average is $3.04 and its two-hundred day moving average is $3.06. Reed’s has a 1 year low of $1.50 and a 1 year high of $9.05.

Reed’s (NYSE:REED) last announced its quarterly earnings data on Thursday, August 10th. The company reported ($0.99) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.33. The company had revenue of $10.01 million during the quarter, compared to analysts’ expectations of $12.72 million. On average, equities analysts expect that Reed’s will post -3.26 earnings per share for the current year.

Reed’s Company Profile

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 Mules; Reed's Hard Ginger Ale; Reed's ready to drink products; and Virgil's handcrafted sodas.