Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) Shares Shorted: Short Interest Up 498.7% in October

Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) was the target of a large increase in short interest in October. As of October 30th, there was short interest totaling 101,720 shares, an increase of 498.7% from the October 15th total of 16,991 shares. Based on an average daily trading volume, of 1,803,696 shares, the short-interest ratio is currently 0.1 days. Approximately 10.6% of the company’s stock are sold short.

Heritage Distilling Stock Performance

Heritage Distilling stock traded up $0.09 during trading hours on Friday, reaching $2.17. 2,897 shares of the stock were exchanged, compared to its average volume of 875,980. Heritage Distilling has a 52-week low of $1.54 and a 52-week high of $296.20. The stock has a market cap of $2.17 million, a P/E ratio of -0.13 and a beta of 5.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.15 and a current ratio of 0.31. The firm’s 50 day moving average is $2.84 and its 200 day moving average is $6.26.

Heritage Distilling (NASDAQ:IPST) last announced its quarterly earnings data on Friday, October 23rd. The company reported ($13.30) earnings per share for the quarter. Heritage Distilling had a negative net margin of 2,064.21% and a negative return on equity of 239.27%. The business had revenue of $0.74 million during the quarter.

Analyst Ratings Changes

IPST has been the subject of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Heritage Distilling in a report on Tuesday, October 13th. Wall Street Zen upgraded shares of Heritage Distilling to a “sell” rating in a research report on Saturday, October 31st. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $164.00.

About Heritage Distilling

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.