Reeds (OTCMKTS:REED) Shares Down 1% – What’s Next?

Shares of Reeds, Inc. (OTCMKTS:REED) dropped 1% during mid-day trading on Thursday . The stock traded as low as $0.81 and last traded at $0.8250. Approximately 5,867 shares were traded during trading, a decline of 81% from the average daily volume of 30,787 shares. The stock had previously closed at $0.8336.

Reeds Price Performance

The firm has a 50-day moving average price of $1.32 and a 200 day moving average price of $2.38. The company has a market cap of $9.84 million, a price-to-earnings ratio of -0.11 and a beta of 0.22.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Reeds stock. Jane Street Group LLC bought a new stake in Reeds, Inc. (OTCMKTS:REED) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,129 shares of the company’s stock, valued at approximately $32,000. Jane Street Group LLC owned 0.17% of Reeds as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 51.48% of the company’s stock.

About Reeds

Reed’s, Inc is a U.S.-based beverage company specializing in the development, production and distribution of craft soft drinks, mixers and functional beverages that feature real ginger and other natural ingredients. The company’s flagship Reed’s Ginger Brew line includes Original, Extra and Stronger formulations, each brewed using fresh ginger root to deliver a balance of spicy flavor and perceived health benefits. Reed’s also markets a portfolio of craft sodas under the Virgil’s brand, offering varieties such as Root Beer, Craft Cola and Vanilla Cream Soda without artificial sweeteners or preservatives.

Founded in 1989 by Christopher J.