Heritage Distilling (NASDAQ:IPST) Releases Earnings Results

Heritage Distilling (NASDAQ:IPST) posted its quarterly earnings data on Friday. The company reported ($13.30) earnings per share (EPS) for the quarter, FiscalAI reports. Heritage Distilling had a negative net margin of 1,875.66% and a negative return on equity of 242.58%. The business had revenue of $0.74 million for the quarter.

Heritage Distilling Stock Performance

Shares of IPST stock opened at $2.03 on Friday. The firm has a market cap of $1.47 million, a price-to-earnings ratio of -0.01 and a beta of 5.38. The company’s 50 day moving average is $4.17 and its 200 day moving average is $4.22. The company has a quick ratio of 0.26, a current ratio of 0.43 and a debt-to-equity ratio of 0.01. Heritage Distilling has a 52-week low of $1.54 and a 52-week high of $308.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Heritage Distilling in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $164.00.

About Heritage Distilling

Heritage Distilling Company, Inc is a craft spirits producer based in Washington state. The company distills, blends, bottles and sells alcoholic beverages, with a portfolio that includes whiskey, bourbon, flavored whiskey, vodka, gin and other spirits. Its products are marketed under brands such as BSB (Brown Sugar Bourbon) and Elk Rider.

In addition to producing its own brands, Heritage Distilling operates tasting rooms and offers direct-to-consumer sales, including online and on-premises retail channels where permitted.