Heritage Distilling (NASDAQ:IPST) Issues Quarterly Earnings Results

Heritage Distilling (NASDAQ:IPST) posted its quarterly earnings results on Monday. The company reported $0.05 EPS for the quarter, Zacks reports. The business had revenue of $2.99 million for the quarter.

Heritage Distilling Stock Performance

NASDAQ:IPST traded down $0.13 during mid-day trading on Wednesday, reaching $9.61. 906 shares of the company’s stock were exchanged, compared to its average volume of 73,446. Heritage Distilling has a one year low of $5.31 and a one year high of $80.00. The business’s fifty day simple moving average is $12.86 and its two-hundred day simple moving average is $11.06. The firm has a market capitalization of $88.12 million and a PE ratio of -0.05.

Analyst Ratings Changes

A number of research firms recently weighed in on IPST. Wall Street Zen cut Heritage Distilling from a “hold” rating to a “strong sell” rating in a research note on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Heritage Distilling in a research note on Wednesday, November 12th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Investors Weigh In On Heritage Distilling

An institutional investor recently bought a new position in Heritage Distilling stock. Polar Asset Management Partners Inc. bought a new stake in Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,309,615 shares of the company’s stock, valued at approximately $2,717,000. Polar Asset Management Partners Inc. owned approximately 36.09% of Heritage Distilling at the end of the most recent reporting period.

About Heritage Distilling

Heritage Distilling Holding Company Inc is a craft distiller of premium brands, including whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails. Heritage Distilling Holding Company Inc is based in GIG HARBOR, Wash.