Reed's Receives New Coverage from Analysts at Singular Research (REED)
Analysts at Singular Research assumed coverage on shares of Reed's (NASDAQ:REED) in a research report issued to clients and investors on Thursday, AnalystRatings.NET reports. The firm set a “buy” rating and a $9.50 price target on the stock. Singular Research’s price objective indicates a potential upside of 82.34% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at TheStreet downgraded shares of Reed's from a “hold” rating to a “sell” rating in a research note to investors on Thursday, September 5th. Analysts at Sidoti downgraded shares of Reed's from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, August 15th.
Reed's (NASDAQ:REED) traded up 5.45% during mid-day trading on Thursday, hitting $5.494. 10,560 shares of the company’s stock traded hands. Reed's has a 1-year low of $3.80 and a 1-year high of $8.82. The stock’s 50-day moving average is $5.70 and its 200-day moving average is $4.94. The company’s market cap is $69.9 million.
Reed's (NASDAQ:REED) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $9.50 million for the quarter, compared to the consensus estimate of $7.80 million. Analysts expect that Reed's will post $-0.10 EPS for the current fiscal year.
Reed’s, Inc develop, manufacture, market, and sell natural non-alcoholic and New Age beverages, candies and ice creams.
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