Reed’s, Inc. (OTCMKTS:REED) Sees Significant Growth in Short Interest

Reed’s, Inc. (OTCMKTS:REED) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 6,000 shares, an increase of 46.3% from the February 28th total of 4,100 shares. Based on an average daily trading volume, of 7,300 shares, the short-interest ratio is presently 0.8 days. Approximately 0.6% of the company’s shares are sold short.

Reed’s Stock Up 5.0 %

Shares of REED traded up $0.07 during midday trading on Tuesday, reaching $1.46. 2,568 shares of the stock were exchanged, compared to its average volume of 4,697. The firm has a 50 day simple moving average of $1.31 and a 200-day simple moving average of $1.10. Reed’s has a 12-month low of $0.51 and a 12-month high of $2.42. The company has a market cap of $11.95 million, a price-to-earnings ratio of -0.36 and a beta of 0.96.

Reed’s (OTCMKTS:REED) last announced its earnings results on Tuesday, March 25th. The company reported ($0.23) EPS for the quarter. The company had revenue of $9.73 million for the quarter, compared to analysts’ expectations of $8.68 million. Research analysts expect that Reed’s will post -1.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Reed’s in a report on Tuesday, February 25th. They set a “sell” rating on the stock.

Reed’s Company Profile

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.