Maxim Group analyst Anthony Vendetti maintained a Buy rating on Reed’s Inc (REED) today and set a price target of $4. The company’s shares opened today at $2.35.
Vendetti said:
“Market close, REED reported lower-than-expected preliminary 4Q18 revenue. The company also introduced select 2019 guidance, including revenue and gross margin. In addition, REED announced a $12.9M equity offering at $2.10 per share. The offering is expected to close on February 20, 2019. REED expects to launch two new products in the CBD/hemp and craft alcoholic markets by the end of 2Q19.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 5.0% and a 50.0% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Restoration Robotics Inc, Sensus Healthcare Inc, and Milestone Scientific.
The word on The Street in general, suggests a Hold analyst consensus rating for Reed’s Inc.
See today’s analyst top recommended stocks >>
The company has a one-year high of $3.95 and a one-year low of $1.45. Currently, Reed’s Inc has an average volume of 35.65K.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is neutral on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Reed’s, Inc. engages in the provision of carbonated and non-carbonated beverages. Its product lines include Reed’s Ginger Brews, Virgil’s Root Beer, and Flying Culdron Butterscotch Beer. The company was founded by Christopher J. Reed in June 1987 and is headquartered in Los Angeles, CA.
