Eastside Distilling, Inc. (NASDAQ:EAST) Short Interest Up 21.9% in October

Eastside Distilling, Inc. (NASDAQ:EAST) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 99,600 shares, an increase of 21.9% from the October 15th total of 81,700 shares. Based on an average daily volume of 2,370,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 3.5% of the company’s stock are short sold.

Eastside Distilling Trading Down 2.3 %

Shares of EAST traded down $0.01 during trading hours on Friday, reaching $0.54. 57,034 shares of the stock traded hands, compared to its average volume of 84,542. Eastside Distilling has a 52 week low of $0.44 and a 52 week high of $2.98. The company has a market cap of $943,184.00, a price-to-earnings ratio of -0.14 and a beta of 1.73. The stock has a fifty day simple moving average of $0.59 and a 200 day simple moving average of $0.85.

Eastside Distilling (NASDAQ:EAST) last announced its earnings results on Wednesday, August 14th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.05). The business had revenue of $3.06 million during the quarter, compared to analysts’ expectations of $2.58 million. Eastside Distilling had a negative return on equity of 2,066.36% and a negative net margin of 74.63%. During the same quarter in the previous year, the firm earned ($1.96) EPS.

Insider Activity at Eastside Distilling

In other Eastside Distilling news, major shareholder Michael Bigger sold 1,054,091 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $2.09, for a total transaction of $2,203,050.19. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 19.82% of the stock is currently owned by insiders.

About Eastside Distilling

Eastside Distilling, Inc manufactures, acquires, blends, bottles, imports, exports, markets, and sells various alcoholic beverages. It operates through two segments, Spirits and Craft Canning + Printing. 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.