Reeds with ticker code (REED) now have 2 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The target price ranges between 2.5 and 1.5 and has a mean target at 2. Now with the previous closing price of 1.21 this now indicates there is a potential upside of 65.3%. The 50 day moving average now sits at 0.95 and the 200 day MA is 0.89. The market capitalisation for the company is $93m. You can visit the company’s website by visiting: http://www.drinkreeds.com
Reed’s develops, manufactures, and sells natural hand-crafted beverages in the craft specialty foods industry in the United States, Canada, Asia, Europe, Australia, and South America. Its products include Reed’s craft ginger beers; Virgil’s craft sodas; and Virgil’s zero sugar sodas. Reed’s sells its products to natural food and gourmet retailers, grocery store chains, mass merchants, club stores, convenience and drug stores, liquor stores, industrial cafeterias, and on-premise bars and restaurants through distributors and independent distributor partners, as well as directly. The company was formerly known as Original Beverage Corporation and changed its name to Reed’s in 2001. Reed’s was founded in 1987 and is headquartered in Norwalk, Connecticut.