Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) Sees Large Growth in Short Interest

Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) was the recipient of a significant growth in short interest in October. As of October 30th, there was short interest totaling 101,720 shares, a growth of 498.7% from the October 15th total of 16,991 shares. Approximately 10.6% of the company’s stock are sold short. Based on an average daily volume of 1,803,696 shares, the short-interest ratio is currently 0.1 days.

Heritage Distilling Stock Performance

Heritage Distilling stock traded up $0.06 during trading hours on Wednesday, reaching $2.23. 3,709 shares of the company were exchanged, compared to its average volume of 883,907. The firm has a market cap of $2.23 million, a price-to-earnings ratio of -0.13 and a beta of 5.32. The company has a current ratio of 0.31, a quick ratio of 0.15 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $2.92 and a 200 day moving average of $6.54. Heritage Distilling has a 12 month low of $1.54 and a 12 month high of $301.60.

Heritage Distilling (NASDAQ:IPST) last released its quarterly earnings results on Friday, October 23rd. The company reported ($13.30) EPS for the quarter. Heritage Distilling had a negative net margin of 2,064.21% and a negative return on equity of 239.27%. The firm had revenue of $0.74 million during the quarter.

Analyst Ratings Changes

IPST has been the topic of several analyst reports. Wall Street Zen raised shares of Heritage Distilling to a “sell” rating in a research report on Saturday, October 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Heritage Distilling in a report on Tuesday, October 13th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Heritage Distilling has an average rating of “Hold” and an average price target of $164.00.

Heritage Distilling Company Profile

Heritage Distilling Company is a craft spirits producer based in Washington state. The company develops, distills, ages, bottles and sells a range of alcoholic beverages, including whiskey, bourbon, vodka, gin, rum and other specialty spirits. Its portfolio also includes ready-to-drink cocktails and flavored or infused spirit products. Founded in 2011 by Justin and Jenny Stiefel, Heritage Distilling has built its business around small-batch production and consumer-focused distillery experiences.