Reed’s, Inc. (OTCMKTS:REED) Short Interest Down 45.0% in March

Reed’s, Inc. (OTCMKTS:REED) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 3,300 shares, a decline of 45.0% from the March 15th total of 6,000 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average trading volume of 3,600 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analyst Weigh In

Several research firms recently issued reports on REED. StockNews.com initiated coverage on Reed’s in a research report on Thursday. They set a “sell” rating on the stock. Roth Capital set a $1.75 price target on shares of Reed’s in a research report on Thursday, March 27th.

Reed’s Stock Up 9.0 %

Shares of OTCMKTS:REED traded up $0.14 during trading on Friday, hitting $1.69. 74,039 shares of the company traded hands, compared to its average volume of 6,168. The stock has a market capitalization of $76.68 million, a price-to-earnings ratio of -0.42 and a beta of 0.62. Reed’s has a one year low of $0.51 and a one year high of $1.89. The business’s fifty day moving average is $1.37 and its 200-day moving average is $1.11.

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

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.