Short Interest in Eastside Distilling, Inc. (NASDAQ:EAST) Grows By 528.5%

Eastside Distilling, Inc. (NASDAQ:EAST) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 81,700 shares, an increase of 528.5% from the September 30th total of 13,000 shares. Based on an average daily volume of 2,360,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 3.7% of the company’s shares are short sold.

Eastside Distilling Price Performance

Shares of NASDAQ:EAST traded down $0.03 during midday trading on Friday, hitting $0.59. 40,733 shares of the company’s stock were exchanged, compared to its average volume of 818,405. The company has a market cap of $999,180.00, a PE ratio of -0.10 and a beta of 1.77. Eastside Distilling has a 12 month low of $0.44 and a 12 month high of $2.98. The stock has a 50 day moving average price of $0.69 and a 200-day moving average price of $0.89.

Eastside Distilling (NASDAQ:EAST) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.05). Eastside Distilling had a negative return on equity of 2,066.36% and a negative net margin of 66.06%. The firm had revenue of $3.06 million for the quarter, compared to analysts’ expectations of $2.58 million. During the same quarter last year, the firm posted ($1.96) earnings per share. On average, analysts anticipate that Eastside Distilling will post -2.63 EPS for the current fiscal year.

Insider Activity

In other Eastside Distilling news, major shareholder Michael Bigger sold 1,054,091 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $2.09, for a total value of $2,203,050.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 19.11% of the company’s stock.

About Eastside Distilling

Eastside Distilling, Inc manufactures, acquires, blends, bottles, imports, exports, markets, and sells various alcoholic beverages. It operates through two segments, Spirits and Craft Canning + Printing. 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.