Reeds, Inc.’s (OTCMKTS:REED) Lock-Up Period Set To Expire on June 3rd

Reeds’ (OTCMKTS:REED) lock-up period will end on Wednesday, June 3rd. Reeds had issued 2,500,000 shares in its public offering on December 5th. The total size of the offering was $10,000,000 based on an initial share price of $4.00. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Reeds Trading Up 13.8%

REED opened at $1.81 on Wednesday. Reeds has a 1-year low of $1.42 and a 1-year high of $12.00. The stock has a market capitalization of $21.46 million, a price-to-earnings ratio of -0.25 and a beta of 0.35. The business has a 50 day moving average of $3.43 and a 200-day moving average of $3.55.

Institutional Investors Weigh In On Reeds

A hedge fund recently bought a new stake in Reeds stock. Armistice Capital LLC acquired a new stake in Reeds, Inc. (OTCMKTS:REED) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 620,000 shares of the company’s stock, valued at approximately $1,302,000. Armistice Capital LLC owned 6.93% of Reeds at the end of the most recent quarter. Hedge funds and other institutional investors own 51.48% of the company’s stock.

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.