Insider Buying: Reed’s, Inc. (NYSEAMERICAN:REED) Director Buys 46,240 Shares of Stock

Reed’s, Inc. (NYSEAMERICAN:REED) Director John Bello purchased 46,240 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $2.25 per share, for a total transaction of $104,040.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of REED stock traded down $0.02 during trading hours on Thursday, hitting $2.10. The company’s stock had a trading volume of 874,400 shares, compared to its average volume of 157,908. Reed’s, Inc. has a twelve month low of $1.90 and a twelve month high of $4.05.

Reed’s (NYSEAMERICAN:REED) last released its quarterly earnings results on Tuesday, August 13th. The consumer goods maker reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $9.48 million for the quarter, compared to analyst estimates of $10.32 million.



A number of hedge funds and other institutional investors have recently made changes to their positions in REED. Northern Trust Corp boosted its position in Reed’s by 30.6% during the fourth quarter. Northern Trust Corp now owns 29,842 shares of the consumer goods maker’s stock worth $61,000 after acquiring an additional 7,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in Reed’s during the first quarter worth approximately $61,000. MYDA Advisors LLC acquired a new stake in Reed’s during the first quarter worth approximately $72,000. Handelsinvest Investeringsforvaltning boosted its position in Reed’s by 300.0% during the second quarter. Handelsinvest Investeringsforvaltning now owns 20,000 shares of the consumer goods maker’s stock worth $76,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in Reed’s during the first quarter worth approximately $87,000.

Several analysts have recently commented on REED shares. Lake Street Capital started coverage on shares of Reed’s in a research report on Friday, April 26th. They issued a “buy” rating and a $6.00 price target on the stock. R. F. Lafferty started coverage on shares of Reed’s in a research report on Friday, May 10th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Reed’s from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $5.06.

Reed’s Company Profile

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.

Read More: Economic Reports

Insider Buying and Selling by Quarter 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.