In the last trading session, 1,177,803 Reed’s, Inc. (NASDAQ:REED) shares changed hands as the company’s beta touched 1.19. With the company’s per share price at $1.05 changed hands at -$0.02 or -0.02% during last session, the market valuation stood at $98.26 Million. REED’s last price was a discount, traded about -60% off its 52-week high of $1.68. The share price had its 52-week low at $0.57, which suggests the last value was 45.71% up since then. When we look at Reed’s, Inc.’s average trading volume, we note the 10-day average is 665.18 Million shares, with the 3-month average coming to 3.22 Million.
Analysts gave the Reed’s, Inc. (REED) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2. If we narrow down to specifics, the data shows that none out of 1 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, none recommended REED as a Hold, 1 felt it is a Buy and none rated the stock as Underweight. Reed’s, Inc.’s EPS for the current quarter is expected to be -$0.03.
Reed’s, Inc. (NASDAQ:REED) trade information
Although REED has turned red as seen at the end of in last trading. With action -1.87%, the performance over the past five days has been green. The jump to weekly highs of $1.08 on Friday, Jun 18 added 2.78% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.78%, with the 5-day performance at 0.01% in the green. However, in the 30-day time frame, Reed’s, Inc. (NASDAQ:REED) is 0.14% up. Looking at the short shares, we see there were 876.85 Million shares sold at short interest cover period of 272.31 days.
The consensus price target for the stock as assigned by Wall Street analysts is $2, meaning bulls need an upside of 90.48% from its current market value. According to analyst projections, REED’s forecast low is $2 with $2 as the target high. To hit the forecast high, the stock’s price needs a +90.48% upsurge from its current level, while the stock would need to tank 90.48% for it to hit the projected low.
Reed’s, Inc. (REED) estimates and forecasts
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $12.2 Million. 1 analysts are of the opinion that Reed’s, Inc.’s revenue for the quarter ending September 01, 2021 will be $12.78 Million. The company’s revenue for the corresponding quarters a year ago was $10.85 Million and $10.36 Million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 12.4%. The estimates for the next quarter sales put growth at 23.4%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 11.1%. The 2021 estimates are for Reed’s, Inc. earnings to increase by 63.5%, but the outlook for the next 5-year period is at 20% per year.
Reed’s, Inc. (NASDAQ:REED)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 9.04% of Reed’s, Inc. shares while 40.17% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 44.17%. There are 52 institutions holding the Reed’s, Inc. stock share, with Union Square Park Capital Management, LLC the top institutional holder. As of Mar 30, 2021, the company held 7.14% of the shares, roughly 6.68 Million REED shares worth $7.81 Million.
Royce & Associates LP holds the second largest percentage of outstanding shares, with 4.41% or 4.13 Million shares worth $4.83 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Royce Opportunity Fund and Vanguard Total Stock Market Index Fund. With 1928894 shares estimated at $2.26 Million under it, the former controlled 2.06% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.29% of the shares, roughly 1.21 Million shares worth around $1.41 Million.