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

Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 9,698 shares, a drop of 56.7% from the July 15th total of 22,381 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily volume of 9,179 shares, the days-to-cover ratio is currently 1.1 days.

Heritage Distilling Price Performance

Shares of NASDAQ:IPST traded up $5.48 on Monday, reaching $7.68. The company’s stock had a trading volume of 84,860,632 shares, compared to its average volume of 631,007. The company has a 50-day simple moving average of $2.61 and a 200 day simple moving average of $7.35. Heritage Distilling has a 52-week low of $1.54 and a 52-week high of $532.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.26 and a current ratio of 0.43. The company has a market cap of $5.53 million, a P/E ratio of -0.02 and a beta of 4.93.

Analyst Ratings Changes

Several research firms have weighed in on IPST. Wall Street Zen upgraded Heritage Distilling to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Heritage Distilling in a research report on Wednesday, July 15th. One equities research 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.com, Heritage Distilling has an average rating of “Hold” and a consensus price target of $164.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IPST. Polar Asset Management Partners Inc. purchased a new stake in Heritage Distilling in the 3rd quarter worth about $2,717,000. CIBC Private Wealth Group LLC purchased a new position in Heritage Distilling during the 3rd quarter valued at about $361,000. CIBC Bancorp USA Inc. bought a new position in Heritage Distilling in the third quarter worth approximately $353,000. Arrington Capital Management LLC purchased a new stake in shares of Heritage Distilling during the 4th quarter worth $645,000. Finally, Virtu Financial LLC bought a new stake in shares of Heritage Distilling in the 3rd quarter valued at about $36,000.

Heritage Distilling Company Profile

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.