Eastside Distilling, Inc. (NASDAQ:EAST) Short Interest Up 528.5% in October

Eastside Distilling, Inc. (NASDAQ:EAST) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 81,700 shares, a growth of 528.5% from the September 30th total of 13,000 shares. Approximately 3.7% of the shares of the stock are short sold. Based on an average trading volume of 2,360,000 shares, the short-interest ratio is presently 0.0 days.

Eastside Distilling Price Performance

NASDAQ:EAST traded down $0.03 during trading hours on Friday, reaching $0.59. The company’s stock had a trading volume of 40,733 shares, compared to its average volume of 119,145. The firm has a 50-day simple moving average of $0.69 and a 200-day simple moving average of $0.89. Eastside Distilling has a 1 year low of $0.44 and a 1 year high of $2.98.

Eastside Distilling (NASDAQ:EAST) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.05). The company 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 66.06%. During the same quarter in the prior year, the firm posted ($1.96) EPS. Research analysts anticipate that Eastside Distilling will post -2.63 earnings per share for the current year.

Insider Transactions at Eastside Distilling

In related news, major shareholder Michael Bigger sold 1,054,091 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $2.09, for a total value of $2,203,050.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 19.11% 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.