Reeds (OTCMKTS:REED) Stock Price Up 1% – Time to Buy?

Reeds, Inc. (OTCMKTS:REED) shot up 1% during mid-day trading on Friday . The company traded as high as $2.14 and last traded at $2.07. 23,139 shares changed hands during trading, a decline of 22% from the average session volume of 29,786 shares. The stock had previously closed at $2.05.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners raised shares of Reeds to a “strong-buy” rating in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Strong Buy” and an average price target of $10.50.

Reeds Trading Up 1.0%

The stock has a fifty day moving average of $2.35 and a two-hundred day moving average of $4.88. The stock has a market capitalization of $18.52 million, a price-to-earnings ratio of -0.28 and a beta of 0.72.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Reeds stock. Armistice Capital LLC acquired a new position in shares of Reeds, Inc. (OTCMKTS:REED) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 620,000 shares of the company’s stock, valued at approximately $1,302,000. Armistice Capital LLC owned about 6.93% of Reeds as of its most recent SEC filing. 51.48% of the stock is currently owned by institutional investors and hedge funds.

About Reeds

Reed’s, Inc is a U.S.-based beverage company specializing in the development, production and distribution of craft soft drinks, mixers and functional beverages that feature real ginger and other natural ingredients. The company’s flagship Reed’s Ginger Brew line includes Original, Extra and Stronger formulations, each brewed using fresh ginger root to deliver a balance of spicy flavor and perceived health benefits. Reed’s also markets a portfolio of craft sodas under the Virgil’s brand, offering varieties such as Root Beer, Craft Cola and Vanilla Cream Soda without artificial sweeteners or preservatives.

Founded in 1989 by Christopher J.