Short Interest in Beeline Holdings, Inc. (NASDAQ:BLNE) Increases By 23.9%

Beeline Holdings, Inc. (NASDAQ:BLNE) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 781,709 shares, an increase of 23.9% from the December 31st total of 630,675 shares. Based on an average daily volume of 939,957 shares, the short-interest ratio is currently 0.8 days. Approximately 4.2% of the company’s stock are short sold. Approximately 4.2% of the company’s stock are short sold. Based on an average daily volume of 939,957 shares, the short-interest ratio is currently 0.8 days.

Beeline Trading Up 7.3%

Shares of BLNE opened at $3.25 on Tuesday. The firm has a market cap of $90.20 million, a PE ratio of -0.48 and a beta of 1.62. Beeline has a 12 month low of $0.62 and a 12 month high of $8.40. The stock has a fifty day moving average price of $2.30 and a 200-day moving average price of $2.44.

Insider Activity

In other Beeline news, CFO Christopher R. Moe acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average cost of $1.68 per share, with a total value of $33,600.00. Following the completion of the acquisition, the chief financial officer directly owned 40,000 shares in the company, valued at $67,200. This represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 33.20% of the company’s stock.

Hedge Funds Weigh In On Beeline

Hedge funds and other institutional investors have recently modified their holdings of the stock. Corsair Capital Management L.P. purchased a new stake in shares of Beeline during the second quarter valued at $30,000. Centiva Capital LP purchased a new position in Beeline in the 3rd quarter worth $46,000. Creative Planning acquired a new stake in Beeline during the 2nd quarter worth about $51,000. Relyea Zuckerberg Hanson LLC purchased a new stake in Beeline during the 3rd quarter valued at about $55,000. Finally, NewEdge Advisors LLC purchased a new stake in Beeline during the 2nd quarter valued at about $55,000. 0.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BLNE. LADENBURG THALM/SH SH upgraded Beeline to a “strong-buy” rating in a report on Thursday, December 18th. Wall Street Zen raised Beeline from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Beeline in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Beeline currently has an average rating of “Moderate Buy”.

About Beeline

Eastside Distilling, Inc manufactures, acquires, blends, bottles, imports, exports, markets, and sells various alcoholic beverages. It operates through two segments, Spirits and Craft Canning and Bottling. 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. It also offers gin and ready-to-drink products; and canning and bottling services to the craft beer and cider industries.