Reeds (OTCMKTS:REED) Trading Up 0.9% - Should You Buy?

Key Points

• Reeds, Inc. stock price increased by 0.9% to close at $1.11, although trading volume was down 54% from its average.
• Analysts have set a consensus price target of $1.75 for Reeds, with one analyst issuing a "sell" rating while the majority maintain a "Buy" rating.
• The company reported a quarterly loss of ($0.10) earnings per share, falling short of expectations, and anticipates an EPS of –1.22 for the current year.

Reeds, Inc. (OTCMKTS:REED - Get Free Report) was up 0.9% during trading on Friday . The stock traded as high as $1.12 and last traded at $1.11. Approximately 3,132 shares were traded during trading, a decline of 54% from the average daily volume of 6,861 shares. The stock had previously closed at $1.10.

Analyst Ratings Changes

Separately, Wall Street Zen began coverage on shares of Reeds in a research note on Monday, May 19th. They issued a "sell" rating on the stock. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $1.75.

Reeds Trading Up 0.9%

The stock has a 50-day moving average price of $1.04 and a 200 day moving average price of $1.24. The stock has a market capitalization of $53.05 million, a price-to-earnings ratio of -0.89 and a beta of 0.21.

Reeds (OTCMKTS:REED - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The business had revenue of $9.52 million during the quarter, compared to the consensus estimate of $10.29 million. Equities research analysts anticipate that Reeds, Inc. will post -1.22 earnings per share for the current year.

About Reeds

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.