Heritage Distilling Holding Company, Inc. (NASDAQ:IPST – Get Free Report) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 16,991 shares, a decline of 45.0% from the September 30th total of 30,915 shares. Approximately 2.4% of the company’s shares are sold short. Based on an average trading volume of 36,097 shares, the short-interest ratio is currently 0.5 days.
Heritage Distilling Trading Down 14.9%
Shares of IPST traded down $0.39 during mid-day trading on Monday, reaching $2.22. The company had a trading volume of 62,954 shares, compared to its average volume of 1,006,998. Heritage Distilling has a fifty-two week low of $1.54 and a fifty-two week high of $301.60. The firm has a fifty day simple moving average of $3.35 and a 200-day simple moving average of $7.42. The stock has a market cap of $2.22 million, a price-to-earnings ratio of -0.13 and a beta of 5.38. 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 (NASDAQ:IPST – Get Free Report) last released its quarterly earnings data on Friday, October 23rd. The company reported ($13.30) EPS for the quarter. The firm had revenue of $0.74 million for the quarter. Heritage Distilling had a negative return on equity of 185.42% and a negative net margin of 2,064.21%.
Analyst Ratings Changes
IPST has been the topic of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Heritage Distilling in a report on Tuesday, October 13th. Wall Street Zen upgraded Heritage Distilling to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Heritage Distilling has an average rating of “Hold” and a consensus target price of $164.00.
Check Out Our Latest Stock Analysis on IPST
Heritage Distilling Company Profile
Heritage Distilling Company is a craft spirits producer based in Washington state. The company develops, distills, ages, bottles and sells a range of alcoholic beverages, including whiskey, bourbon, vodka, gin, rum and other specialty spirits. Its portfolio also includes ready-to-drink cocktails and flavored or infused spirit products.
Founded in 2011 by Justin and Jenny Stiefel, Heritage Distilling has built its business around small-batch production and consumer-focused distillery experiences.
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