Reed’s, Inc. (NYSEAMERICAN:REED) insider Christopher J. Reed sold 5,476 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $3.22, for a total transaction of $17,632.72. Following the sale, the insider now owns 1,483,823 shares in the company, valued at $4,777,910.06. The sale was disclosed in a filing with the SEC, which is available at this link.

Shares of REED stock traded down $0.06 during trading on Monday, reaching $3.29. 38,800 shares of the company’s stock traded hands, compared to its average volume of 152,241. Reed’s, Inc. has a 1 year low of $1.90 and a 1 year high of $4.05.

Reed’s (NYSEAMERICAN:REED) last announced its quarterly earnings results on Tuesday, May 14th. The consumer goods maker reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.03). The company had revenue of $8.45 million for the quarter, compared to the consensus estimate of $8.14 million.

Several hedge funds have recently made changes to their positions in REED. Northern Trust Corp lifted its stake in Reed’s by 30.6% in the 4th quarter. Northern Trust Corp now owns 29,842 shares of the consumer goods maker’s stock worth $61,000 after purchasing an additional 7,000 shares in the last quarter. Virtu Financial LLC purchased a new stake in Reed’s in the 1st quarter worth approximately $61,000. MYDA Advisors LLC purchased a new stake in Reed’s in the 1st quarter worth approximately $72,000. Handelsbanken Fonder AB purchased a new stake in Reed’s in the 1st quarter worth approximately $87,000. Finally, First Manhattan Co. purchased a new stake in Reed’s in the 1st quarter worth approximately $98,000.

A number of brokerages recently commented on REED. R. F. Lafferty began coverage on shares of Reeds in a research note on Friday, May 10th. They set a “buy” rating and a $5.00 price target on the stock. Lake Street Capital began coverage on shares of Reed’s in a research note on Friday, April 26th. They set a “buy” rating and a $6.00 price target on the stock. Finally, Zacks Investment Research cut shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $5.06.

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.

Read More: Compound Annual Growth Rate (CAGR)

Insider Buying and Selling by Quarter for Reed`s (NYSEAMERICAN:REED)

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