Heritage Distilling (NASDAQ:IPST) Posts Earnings Results

Heritage Distilling (NASDAQ:IPST) posted its quarterly earnings data on Tuesday. The company reported ($59.61) EPS for the quarter, FiscalAI reports. Heritage Distilling had a net margin of 2,132.99% and a negative return on equity of 13.65%. The company had revenue of $4.72 million for the quarter.

Heritage Distilling Stock Performance

NASDAQ IPST opened at $0.59 on Thursday. Heritage Distilling has a twelve month low of $0.24 and a twelve month high of $26.60. The stock has a market cap of $6.09 million, a price-to-earnings ratio of -0.03 and a beta of 6.41. The firm’s 50 day moving average price is $0.55 and its two-hundred day moving average price is $4.96.

Analysts Set New Price Targets

Several research firms have issued reports on IPST. Weiss Ratings restated a “sell (d)” rating on shares of Heritage Distilling in a research report on Friday, March 27th. Roth Mkm began coverage on shares of Heritage Distilling in a research report on Friday, January 23rd. They issued a “buy” rating and a $8.20 price target on the stock. Finally, Zacks Research upgraded shares of Heritage Distilling to a “hold” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.20.

Institutional Investors Weigh In On Heritage Distilling

A number of institutional investors have recently modified their holdings of IPST. Virtu Financial LLC acquired a new stake in shares of Heritage Distilling during the 3rd quarter valued at $36,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Heritage Distilling during the 3rd quarter valued at $353,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Heritage Distilling during the 3rd quarter valued at $361,000. Arrington Capital Management LLC acquired a new stake in shares of Heritage Distilling during the 4th quarter valued at $645,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Heritage Distilling during the 3rd quarter valued at $2,717,000.

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.