Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) Short Interest Update

Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) was the target of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 31,373 shares, a drop of 93.6% from the April 15th total of 487,956 shares. Currently, 6.3% of the company’s stock are short sold. Based on an average daily trading volume, of 77,637 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Heritage Distilling

Several institutional investors have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. purchased a new stake in Heritage Distilling during the third quarter worth approximately $2,717,000. CIBC Private Wealth Group LLC acquired a new position in Heritage Distilling during the third quarter worth approximately $361,000. CIBC Bancorp USA Inc. acquired a new position in Heritage Distilling during the third quarter worth approximately $353,000. Arrington Capital Management LLC acquired a new position in Heritage Distilling during the fourth quarter worth approximately $645,000. Finally, Virtu Financial LLC acquired a new position in Heritage Distilling during the third quarter worth approximately $36,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IPST shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Heritage Distilling in a research note on Friday, March 27th. Roth Mkm assumed coverage on Heritage Distilling in a research note on Friday, January 23rd. They set a “buy” rating and a $164.00 target price for the company. Finally, Zacks Research upgraded Heritage Distilling to a “hold” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $164.00.

Heritage Distilling Trading Down 1.9%

IPST stock traded down $0.10 during trading on Monday, hitting $5.16. 11,267 shares of the company’s stock were exchanged, compared to its average volume of 83,482. The business has a 50-day moving average price of $8.03 and a two-hundred day moving average price of $65.01. The stock has a market capitalization of $2.63 million, a price-to-earnings ratio of -0.01 and a beta of 5.06. Heritage Distilling has a 52-week low of $4.25 and a 52-week high of $532.00.

Heritage Distilling (NASDAQ:IPST) last posted its earnings results on Tuesday, April 14th. The company reported ($1,192.20) earnings per share for the quarter. The business had revenue of $4.72 million for the quarter. Heritage Distilling had a negative return on equity of 258.58% and a negative net margin of 1,360.95%.

About Heritage Distilling

Heritage Distilling Company (NASDAQ: CASK) is a craft distiller and distributor of premium spirits based in Washington state. The company specializes in the small-batch production of a diverse portfolio that includes bourbon, rye whiskey, gin, vodka, rum and specialty liqueurs. Heritage combines traditional distillation techniques with locally sourced grains and pure water, aiming to deliver distinctive flavor profiles that appeal to connoisseurs and casual drinkers alike.

Founded in 2010 in Gig Harbor, Washington, Heritage Distilling has expanded its operations to include multiple distillery facilities and tasting rooms, offering guided tours, tasting experiences and educational events.