Short Interest in Beeline Holdings, Inc. (NASDAQ:BLNE) Declines By 23.3%

Beeline Holdings, Inc. (NASDAQ:BLNE) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 630,675 shares, a drop of 23.3% from the December 15th total of 821,852 shares. Based on an average daily volume of 423,283 shares, the short-interest ratio is currently 1.5 days. Currently, 3.4% of the shares of the company are short sold. Currently, 3.4% of the shares of the company are short sold. Based on an average daily volume of 423,283 shares, the short-interest ratio is currently 1.5 days.

Insider Buying and Selling

In other Beeline news, CFO Christopher R. Moe acquired 20,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average cost of $1.68 per share, for a total transaction of $33,600.00. Following the completion of the purchase, the chief financial officer owned 40,000 shares in the company, valued at $67,200. This trade represents a 100.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 33.20% of the company’s stock.

Hedge Funds Weigh In On Beeline

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLNE. Corsair Capital Management L.P. acquired a new stake in shares of Beeline in the 2nd quarter valued at approximately $30,000. Centiva Capital LP purchased a new position in Beeline in the third quarter worth $46,000. Creative Planning purchased a new position in Beeline in the second quarter worth $51,000. Relyea Zuckerberg Hanson LLC acquired a new stake in Beeline in the third quarter valued at $55,000. Finally, NewEdge Advisors LLC acquired a new stake in Beeline in the second quarter valued at $55,000. Institutional investors and hedge funds own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen raised Beeline from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beeline in a research report on Monday, December 29th. Finally, LADENBURG THALM/SH SH raised Beeline to a “strong-buy” rating in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Beeline Stock Up 11.2%

Shares of Beeline stock opened at $3.07 on Monday. The firm has a market cap of $85.19 million, a price-to-earnings ratio of -0.46 and a beta of 1.62. Beeline has a 52-week low of $0.62 and a 52-week high of $10.50. The company’s 50-day simple moving average is $1.95 and its 200-day simple moving average is $2.29.

About Beeline

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. It also offers gin and ready-to-drink products; and canning and bottling services to the craft beer and cider industries.