Reeds (OTCMKTS:REED) Shares Up 4.8% – Here’s Why

Reeds, Inc. (OTCMKTS:REED) shot up 4.8% during mid-day trading on Wednesday . The stock traded as high as $0.92 and last traded at $0.9114. Approximately 51,196 shares traded hands during mid-day trading, an increase of 22% from the average session volume of 41,996 shares. The stock had previously closed at $0.87.

Reeds Trading Up 2.2%

The company’s fifty day simple moving average is $1.01 and its 200 day simple moving average is $2.16. The stock has a market capitalization of $11.15 million, a P/E ratio of -0.13 and a beta of 0.30.

Hedge Funds Weigh In On Reeds

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

Reeds Company Profile

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.