Heritage Distilling (NASDAQ:IPST – Get Free Report) released its earnings results on Wednesday. The company reported ($134.70) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $1.71 million for the quarter. Heritage Distilling had a negative return on equity of 258.58% and a negative net margin of 1,360.95%.
Heritage Distilling Stock Performance
Shares of IPST traded up $0.11 during trading hours on Wednesday, reaching $5.92. 30,598 shares of the company traded hands, compared to its average volume of 134,051. The stock’s fifty day moving average is $7.33 and its 200 day moving average is $54.93. The stock has a market cap of $3.14 million, a P/E ratio of -0.01 and a beta of 5.06. Heritage Distilling has a 1-year low of $4.25 and a 1-year high of $532.00.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Zacks Research raised shares of Heritage Distilling to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Heritage Distilling in a research report on Friday, March 27th. Finally, Roth Mkm assumed coverage on shares of Heritage Distilling in a research report on Friday, January 23rd. They set a “buy” rating and a $164.00 target price for the company. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Heritage Distilling currently has an average rating of “Hold” and an average price target of $164.00.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. acquired a new position in shares of Heritage Distilling during the third quarter valued at about $2,717,000. CIBC Private Wealth Group LLC bought a new position in Heritage Distilling during the third quarter worth about $361,000. CIBC Bancorp USA Inc. bought a new stake in shares of Heritage Distilling in the 3rd quarter valued at approximately $353,000. Arrington Capital Management LLC bought a new stake in shares of Heritage Distilling in the 4th quarter valued at approximately $645,000. Finally, Virtu Financial LLC bought a new stake in shares of Heritage Distilling in the 3rd quarter valued at approximately $36,000.
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.
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