Maxim Group Thinks Reed’s Inc’s Stock is Going to Recover

By Austin Angelo

Maxim Group analyst Anthony Vendetti maintained a Buy rating on Reed’s Inc (NYSE MKT: REED) today and set a price target of $3.50. The company’s shares opened today at $1.55, close to its 52-week low of $1.30.

Vendetti said:

“REED’s new Virgil Zero Sugar product line is expected to launch in April 2018 with six flavors packaged in 12oz cans, which we sampled at Natural Products Expo West on March 9-10.”

According to, Vendetti is a 5-star analyst with an average return of 16.3% and a 63.0% success rate. Vendetti covers the Services sector, focusing on stocks such as Quest Diagnostics Inc, Express Scripts, and Laboratory Corp.

Reed’s Inc has an analyst consensus of Moderate Buy, with a price target consensus of $3.50.

The company has a one-year high of $4.75 and a one-year low of $1.30. Currently, Reed’s Inc has an average volume of 65.75K.

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 development, marketing, and sale of natural non-alcoholic carbonated sodas and natural foods. 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.