Roth Capital Raises Reed’s (NYSEAMERICAN:REED) Price Target to $5.25

Reed’s (NYSEAMERICAN:REED) had its price target upped by Roth Capital from $4.25 to $5.25 in a research note issued to investors on Tuesday, February 26th, The Fly reports. The brokerage currently has a “buy” rating on the consumer goods maker’s stock. Roth Capital’s target price indicates a potential upside of 87.50% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Reed’s from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Maxim Group reaffirmed a “buy” rating and issued a $4.00 price target on shares of Reed’s in a report on Friday, February 15th.

Shares of NYSEAMERICAN:REED traded down $0.24 during midday trading on Tuesday, hitting $2.80. The company had a trading volume of 177,034 shares, compared to its average volume of 222,825. Reed’s has a 12-month low of $1.55 and a 12-month high of $3.95.

In other news, insider Christopher J. Reed sold 17,007 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $2.66, for a total transaction of $45,238.62. Following the transaction, the insider now directly owns 1,965,593 shares of the company’s stock, valued at $5,228,477.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher J. Reed sold 350,000 shares of the firm’s stock in a transaction that occurred on Monday, December 31st. The stock was sold at an average price of $2.00, for a total transaction of $700,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 867,095 shares of company stock valued at $1,867,749.

A number of hedge funds have recently modified their holdings of REED. Vanguard Group Inc lifted its stake in shares of Reed’s by 24.8% during 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 period. Vanguard Group Inc. lifted its position in Reed’s by 24.8% during the third quarter. Vanguard Group Inc. now owns 459,542 shares of the consumer goods maker’s stock valued at $1,494,000 after purchasing an additional 91,178 shares during the period. Renaissance Technologies LLC lifted its position in Reed’s by 38.1% during the second quarter. Renaissance Technologies LLC now owns 139,900 shares of the consumer goods maker’s stock valued at $399,000 after purchasing an additional 38,600 shares during the period. Finally, Northern Trust Corp lifted 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 valued at $61,000 after purchasing an additional 7,000 shares during the period.

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.

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