Narrower Loss Boosts Reed’s (REED); Insider-Confidence on Scorpio Bulkers (SALT)
Shares of Reed’s, Inc. (NYSEMKT:REED) surged more than 7% in after-hours trading Thursday as the company delivered a robust growth in revenue and a narrower loss in its quarterly financial results
For its third quarter fiscal 2016, Reed’s posted – unaudited – net sales of $12.33 million, a 15.08% increase year over year, and a net loss of ($219,000), or ($0.02) per diluted share, compared to a net loss of ($2.47 million), or ($0.19) per diluted share in the same period the prior year.
REED stock finished the regular session in positive territory by 1.74% (or +$0.07) at $4.10, with a total volume of 226,609 shares traded during the day, representing a large increase in activity versus its average volume (3m) of 72,273
Reed’s, which develops, manufactures, markets, and sells natural non-alcoholic carbonated soft drinks, Kombucha, candies, and ice creams, has 13.91M Shares Outstanding and REED stock one-year range is between $2.25 and $6.91per share. At close on Thursday, the company had a Market Capitalization of $57.02M
Scorpio Bulkers Inc. (NYSE:SALT) stock closed at $3.79, up $0.01 (or +0.26%) and 208,342 of its shares changed hands on Thursday’s trading session.
Scorpio Bulkers said after the closing bell that its President Robert Bugbee had bought in the open market an aggregate of 30,000 common shares of the shipping company at an average price of $3.78 per share
The provider of marine transportation of dry bulk commodities has 75.31M Shares Outstanding, Market Capitalization (intraday) of $284.62M and SALT stock 52-week range is from $1.79 to $18.72 per share
Disclaimer: The disclaimer is to be read and fully understood before using our site, or joining our email list. GalaxyStocks is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read full disclaimer at http://galaxystocks.com/disclaimer/