Citadel Advisors LLC Takes $48,000 Position in Eastside Distilling Inc (NASDAQ:EAST)

Citadel Advisors LLC bought a new position in Eastside Distilling Inc (NASDAQ:EAST) in the second quarter, according to its most recent filing with the SEC. The firm bought 10,563 shares of the company’s stock, valued at approximately $48,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. First Wilshire Securities Management Inc. acquired a new stake in Eastside Distilling in the 2nd quarter worth approximately $45,000. Connors Investor Services Inc. boosted its stake in Eastside Distilling by 10.4% in the 2nd quarter. Connors Investor Services Inc. now owns 62,436 shares of the company’s stock worth $281,000 after purchasing an additional 5,900 shares in the last quarter. BlackRock Inc. boosted its stake in Eastside Distilling by 27.4% in the 2nd quarter. BlackRock Inc. now owns 22,344 shares of the company’s stock worth $101,000 after purchasing an additional 4,810 shares in the last quarter. Finally, ARS Investment Partners LLC boosted its stake in Eastside Distilling by 52.2% in the 2nd quarter. ARS Investment Partners LLC now owns 587,361 shares of the company’s stock worth $2,643,000 after purchasing an additional 201,359 shares in the last quarter. Institutional investors own 33.57% of the company’s stock.

Separately, ValuEngine upgraded shares of Eastside Distilling from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd.

EAST stock opened at $4.88 on Friday. The firm has a 50 day moving average of $4.89 and a 200 day moving average of $4.91. The stock has a market capitalization of $44.71 million, a PE ratio of -3.28 and a beta of 0.42. The company has a quick ratio of 1.10, a current ratio of 4.67 and a debt-to-equity ratio of 0.23. Eastside Distilling Inc has a 52 week low of $3.32 and a 52 week high of $8.74.

Eastside Distilling (NASDAQ:EAST) last released its earnings results on Wednesday, August 14th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.12). The company had revenue of $3.90 million during the quarter, compared to analyst estimates of $4.26 million. Eastside Distilling had a negative return on equity of 72.28% and a negative net margin of 108.78%. On average, equities research analysts expect that Eastside Distilling Inc will post -1.08 earnings per share for the current year.

Eastside Distilling Company Profile

Eastside Distilling, Inc develops, manufactures, produces, and markets hand-crafted spirits in the United States. The company offers bourbon under the Burnside West End Blend, Burnside Oregon Oaked Bourbon, and Burnside Goose Hollow RSV Bourbon brand names; premium whiskey under the Barrel Hitch American Whiskey brand names; distinctive whiskey under the Cherry Bomb Whiskey and Marionberry Whiskey brand names; rum under the Below Deck Silver Rum, Below Deck Spiced Rum, Below Deck Coffee Rum, and Below Deck Ginger Rum brand names; and vodka under the Portland Potato Vodka brand name.

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Institutional Ownership by Quarter for Eastside Distilling (NASDAQ:EAST)

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