Short Interest in Eastside Distilling, Inc. (NASDAQ:EAST) Expands By 87.9%

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

Analysts Set New Price Targets

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

Eastside Distilling Stock Down 2.1 %

EAST stock traded down $0.02 during midday trading on Friday, reaching $0.94. The company had a trading volume of 15,160 shares, compared to its average volume of 80,936. Eastside Distilling has a 1 year low of $0.84 and a 1 year high of $3.59. The company has a current ratio of 0.30, a quick ratio of 0.09 and a debt-to-equity ratio of 3.17. The company has a market capitalization of $1.61 million, a P/E ratio of -0.15 and a beta of 1.72. The company has a 50 day moving average of $1.01 and a two-hundred day moving average of $1.07.

Eastside Distilling (NASDAQ:EAST) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.16). The firm had revenue of $2.41 million during the quarter, compared to analyst estimates of $2.72 million. On average, equities research analysts expect that Eastside Distilling will post -2.63 earnings per share for the current fiscal year.

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.