Beeline (NASDAQ:BLNE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Beeline (NASDAQ:BLNE) from a sell rating to a hold rating in a research note released on Saturday morning.

BLNE has been the topic of a number of other reports. LADENBURG THALM/SH SH upgraded Beeline to a “strong-buy” rating in a research report on Thursday, December 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Beeline in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Beeline presently has an average rating of “Moderate Buy”.

Beeline Stock Up 7.8%

Shares of NASDAQ:BLNE opened at $2.21 on Friday. The company has a market cap of $61.33 million, a PE ratio of -0.33 and a beta of 1.62. Beeline has a fifty-two week low of $0.62 and a fifty-two week high of $10.50. The firm has a 50-day simple moving average of $1.91 and a 200 day simple moving average of $2.26.

Insider Buying and Selling

In other Beeline news, CFO Christopher R. Moe bought 20,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were purchased at an average price of $1.68 per share, with a total value of $33,600.00. Following the purchase, the chief financial officer directly owned 40,000 shares of the company’s stock, valued at approximately $67,200. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 33.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Beeline

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Centiva Capital LP bought a new stake in shares of Beeline in the 3rd quarter worth $46,000. Relyea Zuckerberg Hanson LLC acquired a new position in Beeline during the third quarter worth about $55,000. Waddell & Associates LLC raised its position in Beeline by 100.0% in the third quarter. Waddell & Associates LLC now owns 20,000 shares of the company’s stock worth $79,000 after acquiring an additional 10,000 shares in the last quarter. Corsair Capital Management L.P. bought a new stake in Beeline in the second quarter worth about $30,000. Finally, Scientech Research LLC acquired a new stake in Beeline in the 3rd quarter valued at about $89,000. 0.58% of the stock is owned by institutional investors.

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.