Reed’s, Inc. (NASDAQ:REED) Director John Bello acquired 100,000 shares of Reed’s stock in a transaction on Wednesday, September 15th. The shares were bought at an average cost of $0.56 per share, for a total transaction of $56,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
John Bello also recently made the following trade(s):
- On Monday, August 16th, John Bello purchased 135,000 shares of Reed’s stock. The stock was purchased at an average price of $0.72 per share, with a total value of $97,200.00.
Shares of REED opened at $0.62 on Friday. Reed’s, Inc. has a 1-year low of $0.55 and a 1-year high of $1.68. The stock has a market cap of $57.88 million, a PE ratio of -3.63 and a beta of 1.20. The firm has a fifty day moving average price of $0.75 and a 200 day moving average price of $0.94.
Several equities research analysts have weighed in on REED shares. Roth Capital initiated coverage on Reed’s in a research report on Wednesday, August 25th. They set a “buy” rating and a $1.10 price target on the stock. Maxim Group reiterated a “buy” rating and issued a $2.00 price objective on shares of Reed’s in a report on Friday, August 13th.
A number of institutional investors and hedge funds have recently made changes to their positions in REED. Essex Investment Management Co. LLC increased its stake in Reed’s by 9.2% in the first quarter. Essex Investment Management Co. LLC now owns 807,685 shares of the company’s stock valued at $945,000 after purchasing an additional 67,729 shares during the period. Northern Trust Corp increased its stake in shares of Reed’s by 30.7% during the first quarter. Northern Trust Corp now owns 131,068 shares of the company’s stock worth $153,000 after acquiring an additional 30,796 shares during the period. Barclays PLC acquired a new position in shares of Reed’s during the first quarter worth about $28,000. Squarepoint Ops LLC increased its position in shares of Reed’s by 1,322.3% in the first quarter. Squarepoint Ops LLC now owns 301,253 shares of the company’s stock worth $352,000 after acquiring an additional 280,073 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Reed’s in the first quarter worth $55,000. 26.66% of the stock is owned by hedge funds and other institutional investors.
Reed’s, Inc engages in the provision of carbonated and non-carbonated beverages. Its product lines include Reed’s Ginger Brews, Virgil’s Root Beer, and Flying Caldron Butterscotch Beer. The company was founded by Christopher J. Reed in June 1987 and is headquartered in Norwalk, CT.
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