Beeline (NASDAQ:BLNE) Announces Earnings Results

Beeline (NASDAQ:BLNE) posted its quarterly earnings results on Friday. The company reported ($0.20) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $2.36 million for the quarter. Beeline had a negative return on equity of 41.66% and a negative net margin of 288.26%.

Beeline Price Performance

NASDAQ BLNE remained flat at $1.74 during trading hours on Friday. The company had a trading volume of 1,163,823 shares, compared to its average volume of 854,726. The stock has a market capitalization of $40.26 million, a price-to-earnings ratio of -0.16 and a beta of 1.61. The firm has a fifty day moving average price of $3.11 and a 200-day moving average price of $2.01. Beeline has a 12 month low of $0.62 and a 12 month high of $10.50.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Beeline in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Insider Buying and Selling

In related news, CFO Christopher R. Moe purchased 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was bought at an average price of $1.64 per share, with a total value of $32,800.00. Following the acquisition, the chief financial officer owned 20,000 shares in the company, valued at $32,800. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph David Freedman acquired 10,000 shares of Beeline stock in a transaction on Thursday, September 25th. The shares were bought at an average price of $4.22 per share, with a total value of $42,200.00. Following the completion of the transaction, the director directly owned 165,920 shares of the company’s stock, valued at $700,182.40. This trade represents a 6.41% increase in their position. The disclosure for this purchase is available in the SEC filing. 33.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Relyea Zuckerberg Hanson LLC purchased a new stake in Beeline in the 3rd quarter valued at about $55,000. Corsair Capital Management L.P. purchased a new stake in shares of Beeline in the 2nd quarter valued at approximately $30,000. Waddell & Associates LLC lifted its holdings in shares of Beeline by 100.0% in the 3rd quarter. Waddell & Associates LLC now owns 20,000 shares of the company’s stock worth $79,000 after acquiring an additional 10,000 shares during the last quarter. Creative Planning purchased a new position in shares of Beeline during the 2nd quarter worth approximately $51,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Beeline during the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 0.58% of the company’s stock.

Beeline 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.