StockNews.com Initiates Coverage on Reed’s (NYSE:REED)

StockNews.com assumed coverage on shares of Reed’s (NYSE:REED) in a research note issued to investors on Tuesday morning. The firm issued a sell rating on the stock.

Reed’s Price Performance

Reed’s stock opened at $1.24 on Tuesday. The firm has a fifty day moving average of $1.28 and a 200-day moving average of $1.40. Reed’s has a 52-week low of $0.59 and a 52-week high of $3.15. The firm has a market capitalization of $5.20 million, a P/E ratio of -0.35 and a beta of 1.10.

Reed’s (NYSE:REED) last issued its earnings results on Tuesday, August 13th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.29). The firm had revenue of $11.87 million during the quarter, compared to the consensus estimate of $11.47 million. On average, research analysts expect that Reed’s will post -1.25 EPS for the current fiscal year.

About Reed’s

Reed's, Inc engages in the manufacture and distribution of natural beverages in the United States. The company offers Reed's craft ginger beer; Reed's real ginger ales; Reed's Classic Mules; Reed's Hard Ginger Ale; Reed's ready to drink products; and Virgil's handcrafted sodas.