Beeline Holdings, Inc. (NASDAQ:BLNE) Sees Significant Increase in Short Interest

Beeline Holdings, Inc. (NASDAQ:BLNE) saw a large growth in short interest in January. As of January 30th, there was short interest totaling 1,184,340 shares, a growth of 51.5% from the January 15th total of 781,709 shares. Currently, 6.4% of the shares of the company are short sold. Based on an average trading volume of 1,640,333 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 1,640,333 shares, the days-to-cover ratio is presently 0.7 days. Currently, 6.4% of the shares of the company are short sold.

Insider Transactions at Beeline

In other news, CFO Christopher R. Moe bought 20,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $1.68 per share, for a total transaction of $33,600.00. Following the purchase, the chief financial officer owned 40,000 shares in the company, valued at approximately $67,200. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 33.20% of the company’s stock.

Institutional Trading of Beeline

Institutional investors and hedge funds have recently bought and sold shares of the stock. AWM Investment Company Inc. purchased a new stake in Beeline in the 4th quarter worth $3,225,000. NewEdge Advisors LLC increased its holdings in shares of Beeline by 2,932.2% in the third quarter. NewEdge Advisors LLC now owns 1,121,900 shares of the company’s stock worth $4,443,000 after purchasing an additional 1,084,900 shares during the last quarter. Vanguard Group Inc. purchased a new stake in shares of Beeline in the third quarter worth about $1,330,000. Perkins Capital Management Inc. purchased a new stake in shares of Beeline in the fourth quarter worth about $421,000. Finally, Blue Owl Capital Holdings LP bought a new position in Beeline during the fourth quarter valued at approximately $223,000. 0.58% of the stock is currently owned by institutional investors.

Beeline Price Performance

Shares of BLNE opened at $3.03 on Friday. The firm has a market cap of $84.08 million, a P/E ratio of -0.45 and a beta of 1.66. Beeline has a 1 year low of $0.62 and a 1 year high of $8.40. The company has a 50 day simple moving average of $2.52 and a two-hundred day simple moving average of $2.51.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. LADENBURG THALM/SH SH upgraded shares of Beeline to a “strong-buy” rating in a research report on Thursday, December 18th. Wall Street Zen raised shares of Beeline from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beeline in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

About Beeline

Eastside Distilling, Inc manufactures, acquires, blends, bottles, imports, exports, markets, and sells various alcoholic beverages. It operates through two segments, Spirits and Craft Canning and Bottling. 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. It also offers gin and ready-to-drink products; and canning and bottling services to the craft beer and cider industries.