Reed's, Inc. (NYSE:REED) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 324,093 shares, a drop of 10.7% from the February 28th total of 362,781 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average daily volume of 39,205 shares, the days-to-cover ratio is currently 8.3 days.
Separately, Zacks Investment Research lowered shares of Reed's from a “hold” rating to a “sell” rating in a research report on Wednesday, January 11th.
Shares of Reed's (NYSE:REED) traded up 4.60% during trading on Friday, reaching $4.55. 51,106 shares of the company’s stock were exchanged. The firm’s market cap is $63.28 million. Reed's has a 12 month low of $2.25 and a 12 month high of $4.74. The stock has a 50-day moving average price of $4.00 and a 200 day moving average price of $4.09.
A hedge fund recently bought a new stake in Reed's stock. FMR LLC bought a new position in shares of Reed's, Inc. (NYSE:REED) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 200,572 shares of the consumer goods maker’s stock, valued at approximately $822,000. FMR LLC owned approximately 1.44% of Reed's as of its most recent filing with the SEC.
Reed’s, Inc develops, manufactures, markets and sells natural non-alcoholic carbonated soft drinks, Kombucha, candies and ice creams. The Company manufactures, licenses, markets and sells several product lines, such as Reed’s Ginger Brews; Virgil’s Root Beer, Cream Sodas, Dr. Better and Real Cola, including ZERO diet sodas; Culture Club Kombucha; China Colas; Reed’s Ginger candy and ice creams, and Sonoma Sparkler and other juice based products.
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