Reed’s, Inc. (NASDAQ:REED) has a beta value of 1.25 and has seen 3,124,869 shares traded in the last trading session. The company, currently valued at $63.88 Million, closed the last trade at $0.76 per share which meant it lost -$0.05 on the day or -5.1% during that session. The REED stock price is -115.79% off its 52-week high price of $1.64 and 52.63% above the 52-week low of $0.36. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2Million shares traded. The 3-month trading volume is 908.42 Million shares.
The consensus among analysts is that Reed’s, Inc. (REED) is a Buy stock at the moment, with a recommendation rating of 2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 2 have rated it as a Hold, with 2 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.04.
Reed’s, Inc. (NASDAQ:REED) trade information
Despite being -5.1% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, Jan 11 when the REED stock price touched $0.829 or saw a rise of 7.72%. Year-to-date, Reed’s, Inc. shares have moved 29.44%, while the 5-day performance has seen it change 16.81%. Over the past 30 days, the shares of Reed’s, Inc. (NASDAQ:REED) have changed 18.96%. Short interest in the company has seen 627.11 Million shares shorted with days to cover at 0.69.
Wall Street analysts have a consensus price target for the stock at $2, which means that the shares’ value could jump 163.16% from current levels. The projected low price target is $1.5 while the price target rests at a high of $2.5. In that case, then, we find that the current price level is +228.95% off the targeted high while a plunge would see the stock lose 97.37% from current levels.
Reed’s, Inc. (REED) estimates and forecasts
Figures show that Reed’s, Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -17.01% over the past 6 months, with this year growth rate of 65.22%, compared to -2.4% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 55.6% and 40% for the next quarter. Revenue growth from the last financial year stood is estimated to be +18.9%.
2 analysts offering their estimates for the company have set an average revenue estimate of $9.26 Million for the current quarter. 2 have an estimated revenue figure of $10.92 Million for the next quarter concluding in March 01, 2021. Year-ago sales stood $7.15 Million and $9.52 Million respectively for this quarter and the next, and analysts expect sales will grow by 29.5% for the current quarter and 14.7% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -51.2% over the past 5 years. Earnings growth for 2021 is a modest -12.9% while over the next 5 years, the company’s earnings are expected to increase by 20%.
Reed’s, Inc. (NASDAQ:REED)’s Major holders
Insiders own 9.89% of the company shares, while shares held by institutions stand at 29.07% with a share float percentage of 32.26%. Investors are also buoyed by the number of investors in a company, with Reed’s, Inc. having a total of 50 institutions that hold shares in the company. The top two institutional holders are Handelsbanken Fonder AB with over 2.55 Million shares worth more than $2.37 Million. As of September 29, 2020, Handelsbanken Fonder AB held 4.02% of shares outstanding.
The other major institutional holder is Bard Associates Inc., with the holding of over 2.24 Million shares as of September 29, 2020. The firm’s total holdings are worth over $2.08 Million and represent 3.53% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Royce Opportunity Fund and Vanguard Total Stock Market Index Fund. As of September 29, 2020, the former fund manager holds about 1.49% shares in the company for having 941794 shares of worth $874.46 Thousand while later fund manager owns 642.59 Thousand shares of worth $596.64 Thousand as of September 29, 2020, which makes it owner of about 1.01% of company’s outstanding stock.
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