StockNews.com Begins Coverage on Reed’s (NYSE:REED)

StockNews.com initiated coverage on shares of Reed’s (NYSE:REED) in a research report report published on Wednesday morning. The brokerage issued a sell rating on the stock.

Reed’s Stock Performance

Shares of REED opened at $1.25 on Wednesday. The company has a 50-day simple moving average of $1.28 and a 200-day simple moving average of $1.39. The firm has a market capitalization of $5.24 million, a P/E ratio of -0.35 and a beta of 1.10. Reed’s has a 52 week low of $0.59 and a 52 week high of $3.00.

Reed’s (NYSE:REED) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.29). The firm had revenue of $11.87 million for the quarter, compared to analyst estimates of $11.47 million. As a group, equities analysts forecast that Reed’s will post -1.25 earnings per share for the current 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.