StockNews.com Initiates Coverage on Reed’s (OTCMKTS:REED)

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

Separately, Roth Capital set a $1.75 price objective on shares of Reed’s in a report on Thursday, March 27th.

Reed’s Stock Down 7.1 %

Shares of OTCMKTS:REED opened at $1.30 on Friday. Reed’s has a fifty-two week low of $0.51 and a fifty-two week high of $2.42. The firm’s 50 day moving average price is $1.33 and its 200 day moving average price is $1.10. The stock has a market cap of $10.64 million, a price-to-earnings ratio of -0.32 and a beta of 0.62.

Reed’s (OTCMKTS:REED) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($0.23) EPS for the quarter. The business had revenue of $9.73 million for the quarter, compared to the consensus estimate of $8.68 million. On average, equities analysts anticipate that Reed’s will post -1.22 EPS for the current year.

About Reed’s

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