Arrington Capital Management LLC purchased a new stake in shares of Heritage Distilling Holding Company, Inc. (NASDAQ:IPST – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 413,701 shares of the company’s stock, valued at approximately $645,000. Heritage Distilling comprises approximately 0.6% of Arrington Capital Management LLC’s investment portfolio, making the stock its 18th largest holding.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in Heritage Distilling during the third quarter valued at approximately $36,000. CIBC Bancorp USA Inc. acquired a new position in Heritage Distilling during the third quarter valued at approximately $353,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Heritage Distilling in the third quarter worth $361,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Heritage Distilling in the third quarter worth $2,717,000.
Heritage Distilling Stock Performance
Shares of Heritage Distilling stock opened at $3.61 on Thursday. The company’s fifty day simple moving average is $5.75 and its 200-day simple moving average is $25.14. The company has a market cap of $2.60 million, a price-to-earnings ratio of -0.01 and a beta of 4.86. The company has a current ratio of 0.43, a quick ratio of 0.26 and a debt-to-equity ratio of 0.01. Heritage Distilling Holding Company, Inc. has a 1 year low of $3.20 and a 1 year high of $532.00.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on IPST shares. Wall Street Zen upgraded shares of Heritage Distilling to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Heritage Distilling in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $164.00.
View Our Latest Research Report on IPST
Heritage Distilling Profile
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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