Reed’s (OTCMKTS:REED) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Reed’s (OTCMKTS:REED) in a research note issued to investors on Saturday. The brokerage set a “sell” rating on the stock.

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

Reed’s Trading Down 7.1 %

Shares of Reed’s stock opened at $1.30 on Friday. The company has a 50-day moving average of $1.33 and a two-hundred day moving average of $1.10. Reed’s has a 12-month low of $0.51 and a 12-month high of $2.42. The stock has a market cap of $10.64 million, a PE ratio of -0.32 and a beta of 0.62.

Reed’s (OTCMKTS:REED) last released its quarterly earnings data on Tuesday, March 25th. The company reported ($0.23) earnings per share for the quarter. The company had revenue of $9.73 million during the quarter, compared to analysts’ expectations of $8.68 million. On average, sell-side analysts forecast that Reed’s will post -1.22 EPS 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.