Reed’s (OTCMKTS:REED) Trading Down 2.6% – Here’s Why

Shares of Reed’s, Inc. (OTCMKTS:REED) dropped 2.6% during mid-day trading on Tuesday . The company traded as low as $1.21 and last traded at $1.35. Approximately 631 shares were traded during trading, a decline of 88% from the average daily volume of 5,109 shares. The stock had previously closed at $1.39.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Reed’s in a research note on Tuesday, February 25th. They set a “sell” rating for the company.

Reed’s Trading Down 7.6 %

The firm has a market capitalization of $10.23 million, a PE ratio of -0.31 and a beta of 0.96. The business has a 50 day moving average price of $1.23 and a 200-day moving average price of $1.10.

About Reed’s

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.