Reed's (REED) is Reiterated by Maxim Group to Buy, Lowers Price Target to $ 7

Reed's (REED) was Reiterated by Maxim Group to “Buy” while Lowering the Price Target of the company shares to $ 7 from a previous price target of $10 . Maxim Group advised their investors in a research report released on Jun 6, 2016.

Many Wall Street Analysts have commented on Reed's. Wunderlich Initiated Reed's on Mar 22, 2016 to “Buy”, Price Target of the shares are set at $10.

Reed's opened for trading at $2.95 and hit $3.2186 on the upside on Friday, eventually ending the session at $3.2, with a gain of 9.59% or 0.28 points. The heightened volatility saw the trading volume jump to 1,73,894 shares. Company has a market cap of $42 M.

In a different news, on May 13, 2016, Neal Cohane (SVP SALES) purchased 10,000 shares at $3.90 per share price. According to the SEC, on May 13, 2016, Daniel V. Miles (CFO) purchased 10,000 shares at $3.90 per share price. On May 13, 2016, Christopher J Reed (CEO) purchased 10,000 shares at $3.90 per share price, according to the Form-4 filing with the securities and exchange commission.

Reed’s Inc. develops manufactures markets and sells natural non-alcoholic carbonated soft drinks Kombucha candies and ice creams. The Company manufactures markets and sells seven product lines which include Reed’s Ginger Brews; Virgil’s Root Beer Cream Sodas Dr. Better and Real Cola including ZERO diet sodas; Culture Club Kombucha; China Colas; Reed’s Ginger Chews; Reed’s Ginger Ice Creams and Sonoma Sparkler Sparkling Juices. The Company also has private label business. It manufactures and sells around 31 beverages four candies and three ice creams. Reed’s line contains the following products: Reed’s Original Ginger Brew Reed’s Premium Ginger Brew Reed’s Raspberry Ginger Brew Reed’s Spiced Apple Brew Reed’s Cherry Ginger Brew Reed’s Light 55 Calories Extra Ginger Brew Reed’s Natural Energy Elixir and Reed’s Nausea Relief. The Company also distributes other brands including China Cola Sonoma Sparkler and Flying Cauldron Butterscotch Beer.


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