First Wilshire Securities Management Inc. purchased a new stake in shares of Eastside Distilling Inc (NASDAQ:EAST) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $45,000.
Several other institutional investors also recently bought and sold shares of EAST. ARS Investment Partners LLC grew its holdings in shares of Eastside Distilling by 36.5% during the 1st quarter. ARS Investment Partners LLC now owns 386,002 shares of the company’s stock valued at $2,243,000 after acquiring an additional 103,179 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Eastside Distilling by 19.9% during the 1st quarter. Royce & Associates LP now owns 42,150 shares of the company’s stock valued at $245,000 after acquiring an additional 7,000 shares in the last quarter. Connors Investor Services Inc. grew its holdings in shares of Eastside Distilling by 27.0% during the 1st quarter. Connors Investor Services Inc. now owns 56,536 shares of the company’s stock valued at $328,000 after acquiring an additional 12,034 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Eastside Distilling by 27.4% during the 2nd quarter. BlackRock Inc. now owns 22,344 shares of the company’s stock valued at $101,000 after acquiring an additional 4,810 shares in the last quarter. Institutional investors and hedge funds own 33.57% of the company’s stock.
Eastside Distilling stock opened at $4.96 on Friday. The company’s fifty day simple moving average is $4.63 and its 200-day simple moving average is $5.03. The company has a quick ratio of 1.10, a current ratio of 4.67 and a debt-to-equity ratio of 0.23. Eastside Distilling Inc has a 12 month low of $3.32 and a 12 month high of $8.74. The stock has a market cap of $45.43 million, a P/E ratio of -3.33 and a beta of 0.44.
Separately, ValuEngine cut shares of Eastside Distilling from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th.
About Eastside Distilling
Eastside Distilling, Inc develops, manufactures, produces, and markets hand-crafted spirits in the United States. The company offers bourbon under the Burnside West End Blend, Burnside Oregon Oaked Bourbon, and Burnside Goose Hollow RSV Bourbon brand names; premium whiskey under the Barrel Hitch American Whiskey brand names; distinctive whiskey under the Cherry Bomb Whiskey and Marionberry Whiskey brand names; rum under the Below Deck Silver Rum, Below Deck Spiced Rum, Below Deck Coffee Rum, and Below Deck Ginger Rum brand names; and vodka under the Portland Potato Vodka brand name.
Further Reading: What does an equal weight rating mean?
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