Eastside Distilling, Inc. (NASDAQ:EAST) Short Interest Up 528.5% in October

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

Insiders Place Their Bets

In other news, major shareholder Michael Bigger sold 1,054,091 shares of Eastside Distilling stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $2.09, for a total value of $2,203,050.19. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 19.11% of the company’s stock.

Eastside Distilling Trading Down 5.3 %

Shares of NASDAQ:EAST traded down $0.03 on Friday, hitting $0.59. The company had a trading volume of 40,733 shares, compared to its average volume of 119,145. The firm’s 50-day simple moving average is $0.69 and its two-hundred day simple moving average is $0.89. Eastside Distilling has a 1 year low of $0.44 and a 1 year high of $2.98.

Eastside Distilling (NASDAQ:EAST) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.87) EPS 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 company had revenue of $3.06 million during the quarter, compared to analysts’ expectations of $2.58 million. During the same quarter last year, the business earned ($1.96) earnings per share. Equities analysts predict that Eastside Distilling will post -2.63 EPS for the current year.

Eastside Distilling Company Profile

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.