Reed’s (REED) Short Interest Down 5.8% in September
Reed’s (NYSE:REED) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 404,817 shares, a decrease of 5.8% from the September 15th total of 429,929 shares. Currently, 4.2% of the company’s stock are short sold. Based on an average daily trading volume, of 105,508 shares, the short-interest ratio is currently 3.8 days.
An institutional investor recently raised its position in Reed’s stock. Vanguard Group Inc. increased its position in shares of Reed’s (NYSE:REED) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the SEC.
REED has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Reed’s from a “sell” rating to a “hold” rating in a research report on Wednesday, July 20th. Wunderlich reissued a “buy” rating and issued a $8.00 price objective (down from $10.00) on shares of Reed’s in a research report on Friday, August 5th.
Reed’s (NYSE:REED) opened at 4.20 on Wednesday. The company’s market cap is $58.41 million. The stock’s 50 day moving average is $3.69 and its 200 day moving average is $3.42. Reed’s has a 12 month low of $2.25 and a 12 month high of $6.91.
Reed’s (NYSE:REED) last issued its earnings results on Thursday, October 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $12.30 million for the quarter. Equities analysts predict that Reed’s will post ($0.17) earnings per share for the current year.
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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