Short Interest in Reed’s, Inc. (OTCMKTS:REED) Increases By 46.3%

Reed’s, Inc. (OTCMKTS:REED) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 6,000 shares, an increase 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 currently 0.8 days. Approximately 0.6% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Reed’s in a report on Tuesday, February 25th. They set a “sell” rating for the company.

Reed’s Stock Performance

Shares of OTCMKTS:REED traded up $0.00 on Monday, hitting $1.39. 723 shares of the company’s stock were exchanged, 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 company has a market capitalization of $11.38 million, a PE ratio of -0.34 and a beta of 0.96. The firm’s 50-day moving average is $1.30 and its 200 day moving average is $1.10.

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