In the last trading session, 14.1 million shares of the Reed’s Inc. (NASDAQ:REED) were traded, and its beta was 1.22. Most recently the company’s share price was $0.62, and it changed around $0.04 or 6.53% from the last close, which brings the market valuation of the company to $54.29M. REED currently trades at a discount to its 52-week high of $1.68, offering almost -170.97% off that amount. The share price’s 52-week low was $0.55, which indicates that the current value has risen by an impressive 11.29% since then. We note from Reed’s Inc.’s average daily trading volume that its 10-day average is 4.44 million shares, with the 3-month average coming to 630.24K.
Reed’s Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 2 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended REED as a Hold, whereas 2 deemed it a Buy, and 0 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) trade information
Instantly REED has showed a green trend with a performance of 6.53% 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 0.7776 on Friday, 09/17/21 increased the stock’s daily price by 20.27%. The company’s shares are currently up 4.55% year-to-date, but still up 3.02% over the last five days. On the other hand, Reed’s Inc. (NASDAQ:REED) is -7.31% up in the 30-day period. We can see from the shorts that 1.09 million shares have been sold at a short interest cover period of 0.44 day(s).
The consensus price target as assigned by Wall Street analysts is $1.55, which translates to bulls needing to increase their stock price by 60.0% from its current value. Analyst projections state that REED is forecast to be at a low of $1.10 and a high of $2.00. In order for the stock price to hit the forecast high, the stock would need to plunge -222.58% from its current level, while the stock would need to crash -77.42% from its current level to reach the projected low.
Reed’s Inc. (REED) estimates and forecasts
Reed’s Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -48.51 percent over the past six months and at a 11.76% annual growth rate that is well below the industry average of 27.10%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 25.00% in revenue this quarter, and will report an increase of 25.00% in the next quarter. The year-over-year growth rate is expected to be 15.80%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $12.4 million in revenue for the current quarter. 2 analysts expect Reed’s Inc. to make $12.36 million in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $10.36 million and $10.68 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 19.70%. Forecasts for the next quarter put sales growth at 15.80%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 11.10%. Reed’s Inc. earnings are expected to increase by 63.50% in 2021, but the outlook is positive 20.00% per year for the next five years.
Reed’s Inc.’s next quarterly earnings report is expected to be released around November 08 and November 12.
Reed’s Inc. (NASDAQ:REED)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 9.04% of Reed’s Inc. shares, and 40.17% of them are in the hands of institutional investors. The stock currently has a share float of 44.17%. Reed’s Inc. stock is held by 52 institutions, with Union Square Park Capital Management, LLC being the largest institutional investor. By Mar 30, 2021, it held 7.14% of the shares, which is about 6.68 million shares worth $7.81 million.
Royce & Associates LP, with 4.41% or 4.13 million shares worth $4.83 million as of Mar 30, 2021, 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 Mar 30, 2021. The former held 1.93 million shares worth $2.26 million, making up 2.06% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.21 million shares worth around $1.41 million, which represents about 1.29% of the total shares outstanding.