Reed's, Inc. (OTCMKTS:REED) Sees Significant Decline in Short Interest

Reed's, Inc. (OTCMKTS:REED - Get Free Report) was the recipient of a significant 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. Based on an average trading volume of 3,600 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Roth Capital set a $1.75 price objective on shares of Reed's in a research report on Thursday, March 27th. StockNews.com assumed coverage on Reed's in a report on Thursday. They issued a "sell" rating on the stock.

Reed's Price Performance

Shares of REED traded up $0.14 during midday trading on Friday, reaching $1.69. The stock had a trading volume of 74,039 shares, compared to its average volume of 6,168. The company has a market cap of $76.68 million, a price-to-earnings ratio of -0.42 and a beta of 0.62. The company's fifty day simple moving average is $1.38 and its two-hundred day simple moving average is $1.11. Reed's has a 1-year low of $0.51 and a 1-year high of $1.89.

Reed's (OTCMKTS:REED - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $9.73 million during the quarter, compared to analyst estimates of $8.68 million. On average, sell-side analysts forecast that Reed's will post -1.22 earnings per share for the current 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.