Eastside Distilling, Inc. (NASDAQ:BLNE) Director Joseph David Freedman Buys 15,000 Shares

Eastside Distilling, Inc. (NASDAQ:BLNE) Director Joseph David Freedman bought 15,000 shares of the firm’s stock in a transaction on Tuesday, June 17th. The shares were acquired at an average cost of $0.67 per share, with a total value of $10,050.00. Following the purchase, the director now directly owns 155,920 shares of the company’s stock, valued at approximately $104,466.40. This represents a 10.64% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Joseph David Freedman also recently made the following trade(s):

• On Monday, June 16th, Joseph David Freedman bought 35,000 shares of Eastside Distilling stock. The stock was purchased at an average cost of $0.69 per share, with a total value of $24,150.00.
• On Wednesday, April 16th, Joseph David Freedman purchased 15,251 shares of Eastside Distilling stock. The shares were bought at an average cost of $1.17 per share, for a total transaction of $17,843.67.

Eastside Distilling Trading Up 0.8%

BLNE traded up $0.01 during midday trading on Tuesday, reaching $0.67. The company had a trading volume of 306,249 shares, compared to its average volume of 697,057. The company’s 50-day moving average price is $1.18. The firm has a market capitalization of $6.05 million, a P/E ratio of -0.18 and a beta of 1.07. Eastside Distilling, Inc. has a 1 year low of $0.62 and a 1 year high of $29.80.

Eastside Distilling (NASDAQ:BLNE) last released its quarterly earnings data on Tuesday, May 20th. The company reported ($6.14) EPS for the quarter. The company had revenue of $1.83 million for the quarter. Eastside Distilling had a negative net margin of 74.63% and a negative return on equity of 2,066.36%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Eastside Distilling from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th.

Hedge Funds Weigh In On Eastside Distilling

A hedge fund recently bought a new stake in Eastside Distilling stock. EMG Holdings L.P. acquired a new stake in Eastside Distilling, Inc. (NASDAQ:BLNE) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 195,780 shares of the company’s stock, valued at approximately $360,000. Eastside Distilling comprises approximately 0.2% of EMG Holdings L.P.’s portfolio, making the stock its 18th biggest position. EMG Holdings L.P. owned approximately 2.35% of Eastside Distilling as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 0.58% of the company’s stock.

About Eastside Distilling

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.