Christopher J. Reed Sells 5,000 Shares of Reed’s, Inc. (REED) Stock

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Reed’s, Inc. (NYSEAMERICAN:REED) insider Christopher J. Reed sold 5,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $2.44, for a total transaction of $12,200.00. Following the sale, the insider now owns 23,326,000 shares in the company, valued at $56,915,440. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

REED opened at $2.50 on Friday. Reed’s, Inc. has a fifty-two week low of $1.30 and a fifty-two week high of $3.95.

Reed’s (NYSEAMERICAN:REED) last posted its earnings results on Tuesday, November 13th. The consumer goods maker reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The company had revenue of $10.80 million for the quarter, compared to the consensus estimate of $9.83 million.

Separately, Zacks Investment Research cut shares of Reed’s from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th.

An institutional investor recently raised its position in Reed’s stock. Renaissance Technologies LLC boosted its stake in shares of Reed’s, Inc. (NYSEAMERICAN:REED) by 38.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 139,900 shares of the consumer goods maker’s stock after acquiring an additional 38,600 shares during the period. Renaissance Technologies LLC owned 0.56% of Reed’s worth $399,000 at the end of the most recent quarter.

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Reed’s Company Profile

Reed's, Inc develops, manufactures, markets, and sells natural hand-crafted beverages and candies in the United States, Canada, Asia, Europe, Australia, and South America. Its products include Reed's ginger beers; Virgil's root beer and cream sodas; Flying Cauldron Butterscotch Beer; and Sonoma Sparkler branded sparkling juices.

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