Shares of Eastside Distilling Inc (NASDAQ:EAST) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Analysts have set a one year consensus price objective of $9.50 for the company and are predicting that the company will post ($0.36) earnings per share for the current quarter, according to Zacks. Zacks has also given Eastside Distilling an industry rank of 243 out of 255 based on the ratings given to its competitors.

Separately, ValuEngine downgraded Eastside Distilling from a “buy” rating to a “hold” rating in a research note on Saturday, June 16th.

EAST remained flat at $$7.70 during trading on Tuesday. The company had a trading volume of 16,431 shares, compared to its average volume of 25,924. The company has a market cap of $50.16 million, a P/E ratio of -5.42 and a beta of 0.38. Eastside Distilling has a twelve month low of $3.53 and a twelve month high of $9.25. 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 (NASDAQ:EAST) last released its quarterly earnings results on Monday, August 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.07). The firm had revenue of $1.52 million during the quarter, compared to the consensus estimate of $1.43 million. Eastside Distilling had a negative net margin of 130.79% and a negative return on equity of 118.61%. sell-side analysts predict that Eastside Distilling will post -1.24 EPS for the current year.

In related news, major shareholder Glenbrook Capital Lp bought 29,936 shares of the business’s stock in a transaction dated Thursday, June 21st. The stock was purchased at an average cost of $7.70 per share, for a total transaction of $230,507.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Grover T. Wickersham sold 50,000 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $7.75, for a total value of $387,500.00. The disclosure for this sale can be found here. Corporate insiders own 20.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Manatuck Hill Partners LLC lifted its position in shares of Eastside Distilling by 105.8% during the 2nd quarter. Manatuck Hill Partners LLC now owns 247,000 shares of the company’s stock valued at $2,100,000 after acquiring an additional 127,000 shares during the period. Ashford Capital Management Inc. bought a new stake in shares of Eastside Distilling during the 2nd quarter valued at $425,000. Finally, Royce & Associates LP bought a new stake in shares of Eastside Distilling during the 2nd quarter valued at $144,000. Hedge funds and other institutional investors own 11.50% of the company’s stock.

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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