Zacks Investment Research downgraded shares of Reed’s (NYSEAMERICAN:REED) from a hold rating to a sell rating in a report released on Wednesday morning.

According to Zacks, “Reed’s, Inc. develops, manufactures, and markets top selling sodas in natural foods markets and will is currently expanding its innovative, all natural, non-alcoholic beverages, candies and ice creams into the mainstream markets. Its non-alcoholic Ginger Brews are unique in the beverage industry being brewed from fresh ginger, spices and fruits. Award-winning gourmet product lines include: Reed’s Ginger Brews, Reed’s Ginger Juice Brews, Reed’s Ginger Candies and Reed’s Ginger Ice Creams. Additionally, the Company has acquired Virgil’s Root Beer and China Cola product lines. Reed’s products are sold through specialty gourmet and natural food stores, supermarket chains, retail stores and restaurants nationwide and in Canada. “

Separately, Roth Capital started coverage on shares of Reed’s in a research note on Wednesday, August 1st. They set a buy rating and a $4.25 target price for the company.

Shares of REED stock opened at $2.47 on Wednesday. Reed’s has a one year low of $1.30 and a one year high of $3.95.

Reed’s (NYSEAMERICAN:REED) last announced its quarterly earnings data on Monday, August 13th. The consumer goods maker reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.05). The firm had revenue of $9.39 million for the quarter, compared to analysts’ expectations of $9.01 million.

In related news, major shareholder Raptor/Harbor Reeds Spv Llc sold 400,000 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $2.50, for a total transaction of $1,000,000.00. Following the completion of the transaction, the insider now directly owns 3,033,334 shares of the company’s stock, valued at $7,583,335. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Bello bought 414,477 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were bought at an average cost of $2.49 per share, with a total value of $1,032,047.73. Following the completion of the purchase, the director now directly owns 708,631 shares of the company’s stock, valued at approximately $1,764,491.19. The disclosure for this purchase can be found here. Insiders have purchased 427,477 shares of company stock valued at $1,063,048 over the last ninety days.

A hedge fund recently raised its stake in Reed’s stock. Renaissance Technologies LLC boosted its stake in shares of Reed’s, Inc. (NYSEAMERICAN:REED) by 38.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 139,900 shares of the consumer goods maker’s stock after acquiring an additional 38,600 shares during the period. Renaissance Technologies LLC owned 0.56% of Reed’s worth $399,000 at the end of the most recent quarter.

About Reed’s

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.

Recommended Story: Balance Sheet

Get a free copy of the Zacks research report on Reed’s (REED)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.