Heritage Distilling (NASDAQ:IPST) Raised to “Hold” at Wall Street Zen

Heritage Distilling (NASDAQ:IPST) was upgraded by research analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a research note issued on Sunday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Heritage Distilling in a research report on Tuesday, November 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Heritage Distilling Price Performance

Shares of NASDAQ:IPST opened at $8.41 on Friday. The business’s 50 day moving average price is $12.84 and its 200-day moving average price is $11.04. Heritage Distilling has a 1 year low of $5.31 and a 1 year high of $74.80. The firm has a market capitalization of $77.12 million and a PE ratio of -0.05.

Heritage Distilling (NASDAQ:IPST) last announced its quarterly earnings data on Monday, November 17th. The company reported $0.05 earnings per share for the quarter. Heritage Distilling had a negative return on equity of 13.65% and a net margin of 2,132.99%.The company had revenue of $2.99 million for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wealth Preservation Advisors LLC acquired a new position in shares of Heritage Distilling during the 1st quarter valued at about $26,000. Virtu Financial LLC purchased a new position in Heritage Distilling during the third quarter worth about $36,000. CIBC Bancorp USA Inc. acquired a new position in Heritage Distilling in the 3rd quarter valued at about $353,000. CIBC Private Wealth Group LLC acquired a new position in Heritage Distilling in the 3rd quarter valued at about $361,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Heritage Distilling in the 3rd quarter valued at approximately $2,717,000.

Heritage Distilling Company Profile

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.