Reed’s (NYSEAMERICAN:REED) announced its earnings results on Tuesday. The consumer goods maker reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03), Fidelity Earnings reports. The business had revenue of $8.45 million for the quarter, compared to the consensus estimate of $8.14 million. Reed’s updated its FY 2019 guidance to EPS.

NYSEAMERICAN:REED traded up $0.09 during mid-day trading on Wednesday, hitting $3.83. The stock had a trading volume of 683 shares, compared to its average volume of 194,138. Reed’s has a twelve month low of $1.90 and a twelve month high of $4.05.

Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Reed’s from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Roth Capital increased their price target on shares of Reed’s from $4.25 to $5.25 and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Maxim Group reissued a “buy” rating and set a $4.00 price target on shares of Reed’s in a research report on Friday, February 15th. Lake Street Capital assumed coverage on shares of Reed’s in a research report on Friday, April 26th. They set a “buy” rating and a $6.00 price target on the stock. Finally, R. F. Lafferty assumed coverage on shares of Reed’s in a research report on Friday, May 10th. They set a “buy” rating and a $5.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Reed’s presently has an average rating of “Buy” and a consensus target price of $5.06.

In related news, insider Christopher J. Reed sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $2.67, for a total value of $66,750.00. Following the sale, the insider now owns 1,965,593 shares of the company’s stock, valued at $5,248,133.31. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher J. Reed sold 17,007 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $2.66, for a total transaction of $45,238.62. Following the completion of the sale, the insider now directly owns 1,965,593 shares in the company, valued at approximately $5,228,477.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,095 shares of company stock worth $467,749.

WARNING: “Reed’s (REED) Announces Quarterly Earnings Results” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://www.watchlistnews.com/reeds-reed-announces-quarterly-earnings-results/3011245.html.

About Reed’s

Reed's, Inc develops, manufactures, markets, and sells natural hand-crafted beverages and candies in the United States, Canada, Asia, Europe, Australia, and South America. Its products include Reed's ginger beers; Virgil's root beer and cream sodas; Flying Cauldron Butterscotch Beer; and Sonoma Sparkler branded sparkling juices.

See Also: What is the CBOE Russell 2000® Volatility Index?

Earnings History for Reed`s (NYSEAMERICAN:REED)

Receive News & Ratings for Reed's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reed's and related companies with MarketBeat.com's FREE daily email newsletter.