Maxim Group analyst Anthony Vendetti maintained a Buy rating on Reed’s (REED) yesterday and set a price target of $2.50. The company’s shares closed last Tuesday at $0.75.
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 5.0% and a 44.8% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Milestone Scientific, Ra Medical Systems, and Sensus Healthcare.
Reed’s has an analyst consensus of Moderate Buy, with a price target consensus of $2.50.
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Based on Reed’s’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $10.85 million and GAAP net loss of $1.75 million. In comparison, last year the company earned revenue of $9.48 million and had a GAAP net loss of $4.46 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of REED in relation to earlier this year.
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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.
