Reed’s (NYSE:REED) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Reed’s (NYSE:REED) in a research report sent to investors on Sunday morning. The firm issued a sell rating on the stock.

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 %

Shares of Reed’s stock opened at $2.70 on Friday. The firm has a market capitalization of $7.02 million, a P/E ratio of -0.49 and a beta of 1.42. Reed’s has a 52 week low of $1.50 and a 52 week high of $7.23. The firm’s 50 day moving average is $3.06 and its two-hundred day moving average is $2.95.

Reed’s (NYSE:REED) 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.

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