Insider Buying: Reed's CFO Purchases 25,974 Shares of Stock (REED)
Reed's (NASDAQ:REED) CFO James Linesch bought 25,974 shares of the stock in a transaction dated Thursday, January 2nd. The stock was purchased at an average cost of $7.98 per share, with a total value of $207,272.52. Following the purchase, the chief financial officer now directly owns 126,127 shares of the company’s stock, valued at approximately $1,006,493. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Reed's (NASDAQ:REED) traded down 1.00% on Thursday, hitting $7.90. 137,260 shares of the company’s stock traded hands. Reed's has a one year low of $3.80 and a one year high of $8.12. The stock has a 50-day moving average of $6.77 and a 200-day moving average of $5.87. The company’s market cap is $101.2 million.
A number of analysts have recently weighed in on REED shares. Analysts at Midtown Partners initiated coverage on shares of Reed's in a research note to investors on Thursday, November 14th. They set a “strong-buy” rating and a $8.18 price target on the stock. Analysts at Singular Research initiated coverage on shares of Reed's in a research note to investors on Thursday, October 24th. They set a “buy” rating and a $9.50 price target on the stock.
Reed’s, Inc develop, manufacture, market, and sell natural non-alcoholic and New Age beverages, candies and ice creams.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.