Separately, Roth Mkm lowered their target price on shares of Reed’s from $17.00 to $7.00 and set a buy rating on the stock in a research report on Monday, August 14th.
Reed’s Stock Down 8.5 %
Reed’s (NYSE:REED – Get Free Report) last announced its earnings results on Thursday, November 9th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. The business had revenue of $11.86 million for the quarter, compared to analysts’ expectations of $15.38 million. As a group, research analysts expect that Reed’s will post -3.26 earnings per share for the current fiscal year.
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.
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