During the last session, Reed’s Inc. (NASDAQ:REED)’s traded shares were 1.92 million, with the beta value of the company hitting 1.22. At the end of the trading day, the stock’s price was $0.66, reflecting an intraday loss of -3.79% or -$0.03. The 52-week high for the REED share is $1.68, that puts it down -154.55 from that peak though still a striking 16.67% gain since the share price plummeted to a 52-week low of $0.55. The company’s market capitalization is $57.99M, and the average intraday trading volume over the past 10 days was 4.41 million shares, and the average trade volume was 902.57K shares over the past three months.
Reed’s Inc. (REED) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. REED has a Sell rating from 0 analyst(s) out of 2 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.03.
Reed’s Inc. (NASDAQ:REED) trade information
Reed’s Inc. (REED) registered a -3.79% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -3.79% in intraday trading to $0.66 this Wednesday, 09/22/21, hitting a weekly high. The stock’s 5-day price performance is 10.00%, and it has moved by 1.01% in 30 days. Based on these gigs, the overall price performance for the year is -32.91%. The short interest in Reed’s Inc. (NASDAQ:REED) is 1.09 million shares and it means that shorts have 0.44 day(s) to cover.
The consensus price target of analysts on Wall Street is $1.55, which implies an increase of 57.42% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.10 and $2.00 respectively. As a result, REED is trading at a discount of -203.03% off the target high and -66.67% off the low.
Reed’s Inc. (REED) estimates and forecasts
Statistics show that Reed’s Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Reed’s Inc. (REED) shares have gone down -38.32% during the last six months, with a year-to-date growth rate less than the industry average at 11.76% against 28.00. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 25.00% this quarter and then jump 25.00% in the quarter after that. In the rating firms’ projections, revenue will increase 15.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $12.4 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $12.36 million by the end of Dec 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $10.36 million and $10.68 million respectively. In this case, analysts expect current quarter sales to grow by 19.70% and then jump by 15.80% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 11.10%. While earnings are projected to return 63.50% in 2021, the next five years will return 20.00% per annum.
Reed’s Inc. is due to release its next quarterly earnings between November 08 and November 12. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Reed’s Inc. (NASDAQ:REED)’s Major holders
Reed’s Inc. insiders own 7.87% of total outstanding shares while institutional holders control 40.72%, with the float percentage being 44.21%. Union Square Park Capital Management, LLC is the largest shareholder of the company, while 53 institutions own stock in it. As of Jun 29, 2021, the company held over 7.06 million shares (or 7.53% of all shares), a total value of $7.2 million in shares.
The next largest institutional holding, with 3.81 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 4.07% of outstanding shares. At the market price on Jun 29, 2021, these shares were valued at $3.88 million.
Also, the Mutual Funds coming in first place with the largest holdings of Reed’s Inc. (REED) shares are Vanguard Total Stock Market Index Fund and Royce Opportunity Fund. Data provided on Jun 29, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 2.53 million shares. This amounts to just over 2.70 percent of the company’s overall shares, with a $2.58 million market value. The same data shows that the other fund manager holds slightly less at 1.43 million, or about 1.53% of the stock, which is worth about $1.46 million.