Arrington Capital Management LLC Invests $645,000 in Heritage Distilling Holding Company, Inc. $IPST

Arrington Capital Management LLC purchased a new position in Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 413,701 shares of the company’s stock, valued at approximately $645,000. Heritage Distilling makes up about 0.6% of Arrington Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. Arrington Capital Management LLC owned 4.33% of Heritage Distilling as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Polar Asset Management Partners Inc. bought a new position in Heritage Distilling during the third quarter valued at approximately $2,717,000. CIBC Private Wealth Group LLC bought a new position in Heritage Distilling during the third quarter valued at approximately $361,000. CIBC Bancorp USA Inc. bought a new position in Heritage Distilling during the third quarter valued at approximately $353,000. Finally, Virtu Financial LLC bought a new position in Heritage Distilling during the third quarter valued at approximately $36,000.

Heritage Distilling Stock Performance

Shares of IPST stock opened at $3.61 on Thursday. Heritage Distilling Holding Company, Inc. has a 12 month low of $3.20 and a 12 month high of $532.00. The company has a quick ratio of 0.26, a current ratio of 0.43 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $5.75 and its two-hundred day moving average is $25.14. The company has a market cap of $2.60 million, a PE ratio of -0.01 and a beta of 4.86.

Heritage Distilling (NASDAQ:IPST) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($134.70) EPS for the quarter. Heritage Distilling had a negative net margin of 1,875.66% and a negative return on equity of 242.58%. The company had revenue of $1.71 million for the quarter.

Analyst Ratings Changes

Several brokerages recently weighed in on IPST. Wall Street Zen raised shares of Heritage Distilling to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Heritage Distilling in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $164.00.

Heritage Distilling Profile

Heritage Distilling Company (NASDAQ: CASK) is a craft distiller and distributor of premium spirits based in Washington state. The company specializes in the small-batch production of a diverse portfolio that includes bourbon, rye whiskey, gin, vodka, rum and specialty liqueurs. Heritage combines traditional distillation techniques with locally sourced grains and pure water, aiming to deliver distinctive flavor profiles that appeal to connoisseurs and casual drinkers alike.

Founded in 2010 in Gig Harbor, Washington, Heritage Distilling has expanded its operations to include multiple distillery facilities and tasting rooms, offering guided tours, tasting experiences and educational events.