Reed’s (REED) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Reed’s (NYSE:REED) released its earnings results on Thursday. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $12.30 million for the quarter, compared to the consensus estimate of $10.70 million.
Reed’s (NYSE:REED) opened at 4.10 on Friday. The stock’s 50 day moving average price is $3.60 and its 200-day moving average price is $3.45. The firm’s market cap is $57.02 million. Reed’s has a 12-month low of $2.25 and a 12-month high of $6.91.
An institutional investor recently raised its position in Reed’s stock. Vanguard Group Inc. boosted its position in shares of Reed’s (NYSE:REED) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 216,739 shares of the company’s stock after buying an additional 11,800 shares during the period. Vanguard Group Inc. owned 1.56% of Reed’s worth $535,000 as of its most recent SEC filing.
A number of equities analysts have recently commented on the company. Zacks Investment Research raised Reed’s from a “sell” rating to a “hold” rating in a report on Wednesday. Wunderlich reissued a “buy” rating and set a $8.00 price target (down previously from $10.00) on shares of Reed’s in a report on Friday, August 5th.
Reed’s Company Profile
Reed’s, Inc develops, manufactures, markets and sells natural non-alcoholic carbonated soft drinks, Kombucha, candies and ice creams. The Company manufactures, licenses, markets and sells several product lines, such as Reed’s Ginger Brews; Virgil’s Root Beer, Cream Sodas, Dr. Better and Real Cola, including ZERO diet sodas; Culture Club Kombucha; China Colas; Reed’s Ginger candy and ice creams, and Sonoma Sparkler and other juice based products.
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