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

StockNews.com began coverage on shares of Reed’s (OTCMKTS:REED) in a research note released on Thursday. The brokerage issued a sell rating on the stock.

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

Reed’s Stock Performance

Shares of Reed’s stock opened at $1.69 on Thursday. The business has a 50-day simple moving average of $1.38 and a 200-day simple moving average of $1.11. Reed’s has a one year low of $0.51 and a one year high of $1.89. The company has a market cap of $76.68 million, a PE ratio of -0.42 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, sell-side analysts predict that Reed’s will post -1.22 earnings per share for the current fiscal 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 Classic Mules; Reed's Hard Ginger Ale; Reed's ready to drink products; and Virgil's handcrafted sodas.