Short Interest in Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) Grows By 141.5%

Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 26,447 shares, an increase of 141.5% from the June 15th total of 10,952 shares. Based on an average daily trading volume, of 69,985 shares, the days-to-cover ratio is currently 0.4 days. Currently, 3.8% of the company’s shares are short sold.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Heritage Distilling to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Heritage Distilling in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Heritage Distilling has a consensus rating of “Hold” and an average target price of $164.00.

Heritage Distilling Trading Down 0.4%

NASDAQ IPST traded down $0.01 on Wednesday, hitting $2.56. The company’s stock had a trading volume of 38,008 shares, compared to its average volume of 113,576. Heritage Distilling has a 52-week low of $2.10 and a 52-week high of $532.00. The company has a current ratio of 0.43, a quick ratio of 0.26 and a debt-to-equity ratio of 0.01. The company’s 50-day simple moving average is $4.00 and its 200 day simple moving average is $12.26. The firm has a market cap of $1.84 million, a P/E ratio of -0.01 and a beta of 5.03.

Heritage Distilling (NASDAQ:IPST) last issued its quarterly earnings data on Tuesday, April 14th. The company reported ($1,192.20) earnings per share for the quarter. The business had revenue of $4.72 million during the quarter. Heritage Distilling had a negative return on equity of 242.58% and a negative net margin of 1,875.66%.

Institutional Trading of Heritage Distilling

Large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in Heritage Distilling during the 3rd quarter valued at $36,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Heritage Distilling in the 3rd quarter worth about $2,717,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Heritage Distilling in the 3rd quarter worth about $353,000. CIBC Private Wealth Group LLC bought a new stake in shares of Heritage Distilling during the 3rd quarter valued at about $361,000. Finally, Arrington Capital Management LLC bought a new stake in shares of Heritage Distilling during the 4th quarter valued at about $645,000.

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.