Heritage Distilling (NASDAQ:IPST) Announces Quarterly Earnings Results

Heritage Distilling (NASDAQ:IPST) posted its earnings results on Monday. The company reported $0.05 earnings per share for the quarter, Zacks reports. The firm had revenue of $2.99 million during the quarter.

Heritage Distilling Trading Down 1.3%

Shares of IPST stock traded down $0.13 during trading hours on Wednesday, hitting $9.61. 1,717 shares of the company were exchanged, compared to its average volume of 73,451. Heritage Distilling has a 52 week low of $5.31 and a 52 week high of $80.00. The business has a 50 day moving average of $12.86 and a two-hundred day moving average of $11.06. The company has a market capitalization of $88.12 million and a PE ratio of -0.05.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Heritage Distilling stock. Virtu Financial LLC acquired a new position in shares of Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 43,985 shares of the company’s stock, valued at approximately $36,000. Virtu Financial LLC owned about 3.36% of Heritage Distilling at the end of the most recent reporting period.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IPST shares. Weiss Ratings restated a “sell (e+)” rating on shares of Heritage Distilling in a research report on Wednesday, November 12th. Wall Street Zen cut Heritage Distilling from a “hold” rating to a “strong sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Heritage Distilling presently has a consensus rating of “Sell”.

About Heritage Distilling

Heritage Distilling Holding Company Inc is a craft distiller of premium brands, including whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails. Heritage Distilling Holding Company Inc is based in GIG HARBOR, Wash.