In today’s recent session, 1,179,595 shares of the Reed’s, Inc.(NASDAQ:REED) have been traded, and its beta is 1.29. Most recently the company’s share price was $1.2, and it changed around $0.03 or 0.03% from the last close, which brings the market valuation of the company to $102.82 Million. REED at last check was trading at a discount to its 52-week high of $1.64, offering almost -36.67% off that amount. The share price’s 52-week low was $0.36, which indicates that the recent value has risen by an impressive 70% since then. We note from Reed’s, Inc.’s average daily trading volume that its 10-day average is 854.92 Million shares, with the 3-month average coming to 1.43 Million.
Reed’s, Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 1 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended REED as a Hold, whereas 1 deemed it a Buy, and no one rated it as Underweight. Reed’s, Inc. is expected to report earnings per share of -$0.03 for the current quarter.
Reed’s, Inc. (NASDAQ:REED): Trading Information Today
Instantly REED has been showing a green trend so far today with a performance of 2.52% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $1.3 on Wednesday, Apr 07 increased the stock’s daily price by 6.15%. The company’s shares are currently up 1.06% year-to-date, but still up 0.0991 over the last five days. On the other hand, Reed’s, Inc. (NASDAQ:REED) is 0.21% up in the 30-day period. We can see from the shorts that 134.22 Million shares have been sold at a short interest cover period of 93.86 day(s).
The consensus price target as assigned by Wall Street analysts is $1.5, which translates to bears needing to increase their stock price by 25% from its current value. Analyst projections state that REED is forecast to be at a low of $1.5 and a high of $1.5. In order for the stock price to hit the forecast high, the stock would need to surge +25% from its current level, while the stock would need to crash 25% from its current level to reach the projected low.
Reed’s, Inc. (REED) projections and forecasts
Reed’s, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +27.04 percent over the past six months. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +40% in revenue this quarter, and will report an increase of 33.3% in the next quarter. The year-over-year growth rate is expected to be 13%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $10.94 Million in revenue for the current quarter. 2 analysts expect Reed’s, Inc. to make $12.23 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $9.52 Million and $10.85 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 14.9%. Forecasts for the next quarter put sales growth at 12.7%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -51.2%. Reed’s, Inc. earnings are expected to decrease by -12.9% in 2021, but the outlook is positive 20% per year for the next five years.
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Reed’s, Inc. (NASDAQ:REED)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 9.8% of Reed’s, Inc. shares, and 35.92% of them are in the hands of institutional investors. The stock currently has a share float of 39.82%. Reed’s, Inc. stock is held by 51 institutions, with Union Square Park Capital Management, LLC being the largest institutional investor. By Dec 30, 2020, it held 8.03% of the shares, which is about 6.94 Million shares worth $4.1 Million.
Royce & Associates LP, with 4.71% or 4.07 Million shares worth $2.4 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Royce Opportunity Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 1928894 shares worth $1.14 Million, making up 2.23% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 861.16 Thousand shares worth around $508.94 Thousand, which represents about 1% of the total shares outstanding.