Heritage Distilling (NASDAQ:IPST) Releases Earnings Results

Heritage Distilling (NASDAQ:IPST) posted its earnings results on Wednesday. The company reported ($134.70) EPS for the quarter, FiscalAI reports. Heritage Distilling had a negative return on equity of 193.37% and a negative net margin of 1,875.66%.The company had revenue of $1.71 million during the quarter.

Heritage Distilling Trading Up 1.4%

NASDAQ:IPST opened at $5.37 on Friday. Heritage Distilling has a twelve month low of $4.25 and a twelve month high of $532.00. The company has a market cap of $2.84 million, a P/E ratio of -0.01 and a beta of 5.06. The company’s 50-day moving average price is $7.09 and its 200-day moving average price is $51.77.

Institutional Trading of Heritage Distilling

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Polar Asset Management Partners Inc. purchased a new position in Heritage Distilling in the third quarter worth approximately $2,717,000. CIBC Private Wealth Group LLC acquired a new position in Heritage Distilling in the third quarter valued at about $361,000. CIBC Bancorp USA Inc. purchased a new position in Heritage Distilling during the third quarter worth about $353,000. Virtu Financial LLC acquired a new stake in shares of Heritage Distilling during the third quarter valued at about $36,000. Finally, Arrington Capital Management LLC purchased a new stake in shares of Heritage Distilling in the 4th quarter valued at approximately $645,000.

Analyst Upgrades and Downgrades

IPST has been the subject of several recent research reports. Roth Mkm initiated coverage on Heritage Distilling in a report on Friday, January 23rd. They set a “buy” rating and a $164.00 price target for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Heritage Distilling in a research note on Friday, March 27th. Finally, Zacks Research upgraded Heritage Distilling to a “hold” rating in a research note on Monday, January 26th. One equities 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 company. According to data from MarketBeat.com, Heritage Distilling currently has an average rating of “Hold” and a consensus price target of $164.00.

Heritage Distilling Company 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.