Eastside Distilling, Inc. (NASDAQ:EAST) Short Interest Down 75.8% in September

Eastside Distilling, Inc. (NASDAQ:EAST) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 13,000 shares, a decrease of 75.8% from the September 15th total of 53,800 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 2,370,000 shares, the days-to-cover ratio is presently 0.0 days.

Eastside Distilling Stock Performance

Eastside Distilling stock traded down $0.01 during midday trading on Friday, reaching $0.54. The stock had a trading volume of 10,932 shares, compared to its average volume of 855,302. Eastside Distilling has a 1-year low of $0.44 and a 1-year high of $2.98. The firm’s fifty day simple moving average is $0.73 and its 200-day simple moving average is $0.92. The stock has a market capitalization of $1.00 million, a P/E ratio of -0.11 and a beta of 1.77.

Eastside Distilling (NASDAQ:EAST) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.05). Eastside Distilling had a negative net margin of 66.06% and a negative return on equity of 2,066.36%. The business had revenue of $3.06 million during the quarter, compared to analyst estimates of $2.58 million. During the same quarter last year, the business earned ($1.96) earnings per share. On average, sell-side analysts anticipate that Eastside Distilling will post -2.63 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Michael Bigger sold 1,054,091 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $2.09, for a total transaction of $2,203,050.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 19.11% of the company’s stock.

Eastside Distilling Company Profile

Eastside Distilling, Inc manufactures, acquires, blends, bottles, imports, exports, markets, and sells various alcoholic beverages. It operates through two segments, Spirits and Craft Canning + Printing. The company provides whiskey under the Burnside Whiskey brand; vodka under the Portland Potato Vodka brand; rum under the Hue-Hue Coffee Rum brand; and tequila under the Azuñia Tequila brand.