Shares of Eastside Distilling Inc (NASDAQ:EAST) have received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Analysts have set a 12-month consensus price target of $9.50 for the company and are anticipating that the company will post ($0.36) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Eastside Distilling an industry rank of 243 out of 255 based on the ratings given to its competitors.
Separately, ValuEngine upgraded shares of Eastside Distilling from a “hold” rating to a “buy” rating in a report on Thursday, June 7th.
In related news, Chairman Grover T. Wickersham sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $7.75, for a total value of $387,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steve Shum sold 11,604 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $7.52, for a total transaction of $87,262.08. The disclosure for this sale can be found here. 20.80% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP purchased a new stake in Eastside Distilling during the second quarter worth approximately $144,000. Manatuck Hill Partners LLC grew its stake in Eastside Distilling by 105.8% during the second quarter. Manatuck Hill Partners LLC now owns 247,000 shares of the company’s stock worth $2,100,000 after buying an additional 127,000 shares during the period. Finally, Ashford Capital Management Inc. purchased a new stake in Eastside Distilling during the second quarter worth approximately $425,000. Institutional investors own 11.50% of the company’s stock.
NASDAQ:EAST opened at $7.75 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.69 and a quick ratio of 2.40. Eastside Distilling has a 1-year low of $3.53 and a 1-year high of $9.25.
Eastside Distilling (NASDAQ:EAST) last posted its quarterly earnings data on Monday, August 13th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.07). The firm had revenue of $1.52 million during the quarter, compared to analyst estimates of $1.43 million. Eastside Distilling had a negative net margin of 130.79% and a negative return on equity of 118.61%. analysts anticipate that Eastside Distilling will post -1.24 EPS for the current fiscal year.
Eastside Distilling Company Profile
Eastside Distilling, Inc develops, manufactures, produces, and markets hand-crafted spirits in the United States. The company offers bourbon under the Burnside West End Blend, Burnside Oregon Oaked Bourbon, and Burnside Goose Hollow RSV Bourbon brand names; premium whiskey under the Barrel Hitch American Whiskey brand names; distinctive whiskey under the Cherry Bomb Whiskey and Marionberry Whiskey brand names; rum under the Below Deck Silver Rum, Below Deck Spiced Rum, Below Deck Coffee Rum, and Below Deck Ginger Rum brand names; and vodka under the Portland Potato Vodka brand name.
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