Reeds’ (OTCMKTS:REED – Get Free Report) quiet period will end on Wednesday, January 14th. Reeds had issued 2,500,000 shares in its IPO on December 5th. The total size of the offering was $10,000,000 based on an initial share price of $4.00. During Reeds’ quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration 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 research note on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Strong Buy” and a consensus target price of $10.50.
Read Our Latest Analysis on Reeds
Reeds Trading Down 2.3%
Reeds (OTCMKTS:REED – Get Free Report) last announced its earnings results on Monday, November 3rd. The company reported ($0.48) EPS for the quarter. Reeds had a negative net margin of 42.48% and a negative return on equity of 358.36%. The business had revenue of $7.03 million for the quarter. Equities research analysts forecast that Reeds will post -1.22 EPS for the current fiscal year.
Reeds Company Profile
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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