Heritage Distilling (NASDAQ:IPST) Posts Quarterly Earnings Results

Heritage Distilling (NASDAQ:IPST) announced its earnings results on Tuesday. The company reported ($59.61) EPS for the quarter, FiscalAI reports. The firm had revenue of $4.72 million for the quarter. Heritage Distilling had a net margin of 2,132.99% and a negative return on equity of 13.65%.

Heritage Distilling Stock Up 6.6%

Shares of NASDAQ:IPST traded up $0.03 during trading on Tuesday, reaching $0.50. The stock had a trading volume of 1,116,233 shares, compared to its average volume of 2,928,600. Heritage Distilling has a fifty-two week low of $0.24 and a fifty-two week high of $26.60. The business has a fifty day moving average price of $0.57 and a 200-day moving average price of $5.09. The stock has a market cap of $5.15 million, a P/E ratio of -0.02 and a beta of 6.41.

Institutional Trading of Heritage Distilling

Large investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Heritage Distilling in the third quarter worth $36,000. CIBC Bancorp USA Inc. bought a new position in Heritage Distilling in the 3rd quarter worth about $353,000. CIBC Private Wealth Group LLC bought a new position in Heritage Distilling in the 3rd quarter valued at about $361,000. Arrington Capital Management LLC bought a new position in Heritage Distilling in the 4th quarter valued at about $645,000. Finally, Polar Asset Management Partners Inc. bought a new position in Heritage Distilling in the 3rd quarter valued at about $2,717,000.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IPST shares. Roth Mkm assumed coverage on Heritage Distilling in a research report on Friday, January 23rd. They set a “buy” rating and a $8.20 price objective for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Heritage Distilling in a report on Friday, March 27th. Finally, Zacks Research raised Heritage Distilling to a “hold” rating in a report on Monday, January 26th. One investment 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.20.

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.