Reed’s, Inc. (OTCMKTS:REED) Sees Significant Increase in Short Interest

Reed’s, Inc. (OTCMKTS:REED) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 6,000 shares, a growth of 46.3% from the February 28th total of 4,100 shares. Based on an average daily trading volume, of 7,300 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.6% of the shares of the company are short sold.

Reed’s Stock Up 0.3 %

OTCMKTS REED traded up $0.00 during trading hours on Friday, reaching $1.39. The company’s stock had a trading volume of 723 shares, compared to its average volume of 4,739. Reed’s has a 1 year low of $0.51 and a 1 year high of $2.42. The firm’s 50-day moving average price is $1.30 and its 200-day moving average price is $1.10. The company has a market capitalization of $11.38 million, a price-to-earnings ratio of -0.34 and a beta of 0.96.

Reed’s (OTCMKTS:REED) last announced its quarterly earnings results on Tuesday, March 25th. The company reported ($0.23) EPS for the quarter. The business had revenue of $9.73 million for the quarter, compared to analyst estimates of $8.68 million. Equities research analysts anticipate that Reed’s will post -1.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Reed’s in a research report on Tuesday, February 25th. They issued a “sell” rating on the stock.

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.