StockNews.com assumed coverage on shares of Reed’s (NYSE:REED – Get Rating) in a report released on Saturday. The firm set a “sell” rating on the stock.
Reed’s Trading Up 3.0 %
Shares of NYSE:REED opened at $3.05 on Friday. The company has a market cap of $7.93 million, a PE ratio of -0.34 and a beta of 1.62. The company’s fifty day moving average is $2.97. Reed’s has a 1-year low of $1.50 and a 1-year high of $11.60.
Reed’s (NYSE:REED – Get Rating) last released its quarterly earnings results on Wednesday, March 29th. The company reported ($2.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.28) by ($1.21). Reed’s had a negative net margin of 36.23% and a negative return on equity of 1,582.74%. The firm had revenue of $15.04 million for the quarter, compared to the consensus estimate of $15.10 million. Equities research analysts forecast that Reed’s will post -2.11 earnings per share for the current year.
About Reed’s
Reed’s, Inc engages in the manufacture and distribution of carbonated and non-carbonated beverages. Its product lines include Reed’s Ginger Brews, Virgil’s Root Beer, and Flying Caldron Butterscotch Beer. The company was founded by Christopher J. Reed in June 1987 and is headquartered in Norwalk, CT.
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