Eastside Distilling (NASDAQ:BLNE) Posts Quarterly Earnings Results

Eastside Distilling (NASDAQ:BLNE) issued its quarterly earnings data on Tuesday. The company reported ($6.14) earnings per share (EPS) for the quarter, Zacks reports. Eastside Distilling had a negative net margin of 74.63% and a negative return on equity of 2,066.36%.

Eastside Distilling Stock Performance

Shares of BLNE traded up $0.04 during trading hours on Tuesday, hitting $1.25. 1,214,904 shares of the stock were exchanged, compared to its average volume of 591,914. Eastside Distilling has a 12-month low of $0.89 and a 12-month high of $29.80. The firm has a market capitalization of $10.42 million, a P/E ratio of -0.34 and a beta of 1.15. The stock has a 50-day moving average price of $1.71.

Insider Buying and Selling

In related news, CEO Nicholas Reyland Liuzza, Jr. bought 18,200 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average cost of $1.39 per share, for a total transaction of $25,298.00. Following the completion of the acquisition, the chief executive officer now owns 1,721,293 shares in the company, valued at approximately $2,392,597.27. This trade represents a 1.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders acquired 70,661 shares of company stock worth $101,648. Company insiders own 20.40% of the company’s stock.

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 and Bottling. 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.