Insider Buying: Eastside Distilling, Inc. (NASDAQ:BLNE) Director Buys $24,150.00 in Stock

Eastside Distilling, Inc. (NASDAQ:BLNE) Director Joseph David Freedman bought 35,000 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were bought at an average cost of $0.69 per share, for a total transaction of $24,150.00. Following the completion of the transaction, the director now directly owns 140,920 shares of the company’s stock, valued at $97,234.80. This trade represents a 33.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Joseph David Freedman also recently made the following trade(s):

• On Tuesday, June 17th, Joseph David Freedman purchased 15,000 shares of Eastside Distilling stock. The stock was bought at an average cost of $0.67 per share, with a total value of $10,050.00.
• On Wednesday, April 16th, Joseph David Freedman purchased 15,251 shares of Eastside Distilling stock. The stock was purchased at an average cost of $1.17 per share, with a total value of $17,843.67.

Eastside Distilling Price Performance

BLNE stock traded up $0.01 during trading on Tuesday, reaching $0.67. 306,249 shares of the stock were exchanged, compared to its average volume of 697,057. The firm has a market capitalization of $6.05 million, a P/E ratio of -0.18 and a beta of 1.07. Eastside Distilling, Inc. has a twelve month low of $0.62 and a twelve month high of $29.80. The business’s 50 day simple moving average is $1.18.

Eastside Distilling (NASDAQ:BLNE) last posted its quarterly earnings results on Tuesday, May 20th. The company reported ($6.14) earnings per share (EPS) for the quarter. The business had revenue of $1.83 million during the quarter. Eastside Distilling had a negative return on equity of 2,066.36% and a negative net margin of 74.63%.

Hedge Funds Weigh In On Eastside Distilling

A hedge fund recently bought a new stake in Eastside Distilling stock. EMG Holdings L.P. acquired a new stake in Eastside Distilling, Inc. (NASDAQ:BLNE) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 195,780 shares of the company’s stock, valued at approximately $360,000. Eastside Distilling makes up approximately 0.2% of EMG Holdings L.P.’s portfolio, making the stock its 18th biggest holding. EMG Holdings L.P. owned about 2.35% of Eastside Distilling as of its most recent filing with the SEC. 0.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Eastside Distilling from a “sell” rating to a “hold” rating in a report on Saturday, May 24th.

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.