Reed's, Inc. (NYSEAMERICAN:REED) saw a significant increase in short interest in the month of December. As of December 29th, there was short interest totalling 511,842 shares, an increase of 8.3% from the December 15th total of 472,412 shares. Currently, 7.9% of the shares of the company are short sold. Based on an average trading volume of 100,685 shares, the days-to-cover ratio is currently 5.1 days.
In related news, major shareholder Raptor/Harbor Reeds Spv Llc acquired 2,666,667 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were purchased at an average price of $1.50 per share, with a total value of $4,000,000.50. Following the completion of the purchase, the insider now directly owns 3,433,334 shares of the company’s stock, valued at $5,150,001. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Bello acquired 266,403 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was bought at an average cost of $1.50 per share, for a total transaction of $399,604.50. The disclosure for this purchase can be found here. In the last three months, insiders acquired 3,199,473 shares of company stock worth $4,799,210.
An institutional investor recently bought a new position in Reed's stock. Goldman Sachs Group Inc. bought a new stake in shares of Reed's, Inc. (NYSEAMERICAN:REED) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 443,127 shares of the consumer goods maker’s stock, valued at approximately $1,086,000. Goldman Sachs Group Inc. owned 3.17% of Reed's at the end of the most recent quarter.
Reed's (NYSEAMERICAN REED) opened at $1.70 on Friday. Reed's has a 12 month low of $1.30 and a 12 month high of $4.75. The company has a market capitalization of $25.99, a PE ratio of -2.50 and a beta of 0.84.
ILLEGAL ACTIVITY NOTICE: “Reed's, Inc. (REED) Short Interest Update” was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://ledgergazette.com/2018/01/13/reeds-inc-reed-short-interest-update-2.html.
Reed's Company Profile
Reed’s, Inc develops, manufactures, markets and sells natural non-alcoholic carbonated soft drinks, Kombucha, candies and ice creams. The Company manufactures, licenses, markets and sells several product lines, such as 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 candy and ice creams, and Sonoma Sparkler and other juice based products.
Receive News & Ratings for Reed's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reed's and related companies with MarketBeat.com's FREE daily email newsletter.