Heritage Distilling (NASDAQ:IPST) Posts Earnings Results

Heritage Distilling (NASDAQ:IPST) released its quarterly earnings results on Friday. The company reported ($13.30) earnings per share (EPS) for the quarter, FiscalAI reports. Heritage Distilling had a negative net margin of 1,875.66% and a negative return on equity of 242.58%. The business had revenue of $0.74 million during the quarter.

Heritage Distilling Trading Down 22.5%

NASDAQ:IPST traded down $0.59 on Friday, hitting $2.03. 23,557 shares of the stock were exchanged, compared to its average volume of 841,855. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.26 and a current ratio of 0.43. Heritage Distilling has a 52 week low of $1.54 and a 52 week high of $308.00. The stock has a market capitalization of $1.46 million, a price-to-earnings ratio of -0.01 and a beta of 5.38. The company’s 50-day moving average price is $4.17 and its 200 day moving average price is $4.23.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Heritage Distilling in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Heritage Distilling currently has an average rating of “Hold” and a consensus price target of $164.00.

About Heritage Distilling

Heritage Distilling Company, Inc is a craft spirits producer based in Washington state. The company distills, blends, bottles and sells alcoholic beverages, with a portfolio that includes whiskey, bourbon, flavored whiskey, vodka, gin and other spirits. Its products are marketed under brands such as BSB (Brown Sugar Bourbon) and Elk Rider.

In addition to producing its own brands, Heritage Distilling operates tasting rooms and offers direct-to-consumer sales, including online and on-premises retail channels where permitted.