Eastside Distilling, Inc. (NASDAQ:EAST) Short Interest Update

Eastside Distilling, Inc. (NASDAQ:EAST) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 66,500 shares, a growth of 87.9% from the June 30th total of 35,400 shares. Based on an average daily volume of 88,500 shares, the days-to-cover ratio is currently 0.8 days. Approximately 5.6% of the shares of the company are short sold.

Eastside Distilling Price Performance

NASDAQ:EAST traded down $0.02 during trading hours on Friday, reaching $0.94. The company had a trading volume of 15,160 shares, compared to its average volume of 80,936. The stock has a 50-day moving average of $1.01 and a two-hundred day moving average of $1.07. Eastside Distilling has a one year low of $0.84 and a one year high of $3.59. The firm has a market capitalization of $1.61 million, a PE ratio of -0.15 and a beta of 1.72. The company has a quick ratio of 0.09, a current ratio of 0.30 and a debt-to-equity ratio of 3.17.

Eastside Distilling (NASDAQ:EAST) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.16). The business had revenue of $2.41 million during the quarter, compared to analysts’ expectations of $2.72 million. Analysts forecast that Eastside Distilling will post -2.63 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Roth Mkm cut their target price on Eastside Distilling from $5.00 to $3.50 and set a “buy” rating for the company in a research note on Monday, April 8th.

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.