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

In a report released yesterday, Anthony Vendetti from Maxim Group maintained a Buy rating on Reed’s (REEDResearch Report), with a price target of $1.00. The company’s shares closed last Tuesday at $0.30, close to its 52-week low of $0.28.

According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 5.8% and a 37.1% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Dermata Therapeutics, Milestone Scientific, and Applied DNA Sciences.

The word on The Street in general, suggests a Hold analyst consensus rating for Reed’s.

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Based on Reed’s’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $13.4 million and GAAP net loss of $3.89 million. In comparison, last year the company earned revenue of $10.56 million and had a GAAP net loss of $2.59 million.

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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.

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