Short Interest in Reed’s, Inc. (REED) Drops By 4.8%

Reed’s, Inc. (NYSEAMERICAN:REED) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 541,798 shares, a drop of 4.8% from the December 14th total of 568,888 shares. Based on an average daily volume of 45,070 shares, the days-to-cover ratio is currently 12.0 days. Approximately 3.2% of the company’s stock are short sold.

Shares of Reed’s stock opened at $2.70 on Friday. Reed’s has a 12 month low of $1.40 and a 12 month high of $3.95.

Reed’s (NYSEAMERICAN:REED) last issued its quarterly earnings results on Tuesday, November 13th. The consumer goods maker reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The company had revenue of $10.80 million during the quarter, compared to analyst estimates of $9.83 million.



Separately, Zacks Investment Research lowered Reed’s from a “hold” rating to a “sell” rating in a report on Thursday, October 4th.

In other Reed’s news, Director John Bello purchased 21,461 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The shares were acquired at an average cost of $2.43 per share, for a total transaction of $52,150.23. Following the completion of the acquisition, the director now owns 1,148,982 shares of the company’s stock, valued at approximately $2,792,026.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher J. Reed sold 350,000 shares of Reed’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $2.00, for a total value of $700,000.00. Following the sale, the insider now owns 1,982,600 shares in the company, valued at $3,965,200. The disclosure for this sale can be found here. In the last 90 days, insiders bought 86,461 shares of company stock worth $187,550 and sold 705,000 shares worth $1,412,200.

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in Reed’s by 38.1% in the second quarter. Renaissance Technologies LLC now owns 139,900 shares of the consumer goods maker’s stock worth $399,000 after buying an additional 38,600 shares during the last quarter. Vanguard Group Inc. increased its position in Reed’s by 24.8% in the third quarter. Vanguard Group Inc. now owns 459,542 shares of the consumer goods maker’s stock worth $1,494,000 after buying an additional 91,178 shares during the last quarter. Finally, Vanguard Group Inc increased its position in Reed’s by 24.8% in the third quarter. Vanguard Group Inc now owns 459,542 shares of the consumer goods maker’s stock worth $1,494,000 after buying an additional 91,178 shares during the last quarter.

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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.

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