Reed’s, Inc. (NYSEAMERICAN:REED) Insider Sells $94,296.24 in Stock

Reed’s, Inc. (NYSEAMERICAN:REED) insider Christopher J. Reed sold 27,816 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $3.39, for a total transaction of $94,296.24. Following the completion of the sale, the insider now owns 1,529,176 shares of the company’s stock, valued at $5,183,906.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

REED stock opened at $3.38 on Friday. Reed’s, Inc. has a 52-week low of $1.90 and a 52-week high of $4.05.

Reed’s (NYSEAMERICAN:REED) last released its earnings results on Tuesday, May 14th. The consumer goods maker reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03). The firm had revenue of $8.45 million for the quarter, compared to analysts’ expectations of $8.14 million.

Several hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in Reed’s by 30.6% in the 4th quarter. Northern Trust Corp now owns 29,842 shares of the consumer goods maker’s stock worth $61,000 after acquiring an additional 7,000 shares during the last quarter. Virtu Financial LLC purchased a new position in Reed’s in the 1st quarter worth approximately $61,000. MYDA Advisors LLC purchased a new position in Reed’s in the 1st quarter worth approximately $72,000. Handelsbanken Fonder AB purchased a new position in Reed’s in the 1st quarter worth approximately $87,000. Finally, First Manhattan Co. purchased a new position in Reed’s in the 1st quarter worth approximately $98,000.

REED has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Zurich Insurance Group from a “sell” rating to a “hold” rating in a report on Saturday, May 18th. Lake Street Capital initiated coverage on shares of Reed’s in a report on Friday, April 26th. They set a “buy” rating and a $6.00 target price for the company. Finally, R. F. Lafferty initiated coverage on shares of Reeds in a report on Friday, May 10th. They set a “buy” rating and a $5.00 target price for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $5.06.

Reed’s Company Profile

Reed's, Inc develops, manufactures, markets, and sells natural hand-crafted beverages and candies in the United States, Canada, Asia, Europe, Australia, and South America. Its products include Reed's ginger beers; Virgil's root beer and cream sodas; Flying Cauldron Butterscotch Beer; and Sonoma Sparkler branded sparkling juices.

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Insider Buying and Selling by Quarter for Reed`s (NYSEAMERICAN:REED)

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