Beeline (NASDAQ:BLNE) Director Joseph David Freedman Purchases 10,000 Shares

Beeline Holdings, Inc. (NASDAQ:BLNE) Director Joseph David Freedman acquired 10,000 shares of the business’s stock in a transaction on Thursday, September 25th. The shares were purchased at an average cost of $4.22 per share, for a total transaction of $42,200.00. Following the completion of the transaction, the director owned 165,920 shares in the company, valued at approximately $700,182.40. This represents a 6.41% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Beeline Stock Performance

Shares of NASDAQ:BLNE opened at $3.77 on Thursday. The firm has a market capitalization of $74.04 million, a P/E ratio of -0.10 and a beta of 1.52. The stock has a 50 day moving average price of $2.44 and a 200-day moving average price of $1.75. Beeline Holdings, Inc. has a 52-week low of $0.62 and a 52-week high of $10.50.

Beeline (NASDAQ:BLNE) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.41) earnings per share for the quarter. The firm had revenue of $1.72 million during the quarter. Beeline had a negative return on equity of 41.66% and a negative net margin of 288.26%.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH raised shares of Beeline to a “strong-buy” rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has an average rating of “Strong Buy”.

Institutional Investors Weigh In On Beeline

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new position in shares of Beeline in the 2nd quarter worth about $55,000. Corsair Capital Management L.P. purchased a new position in Beeline in the second quarter worth about $30,000. Worth Venture Partners LLC bought a new position in shares of Beeline in the second quarter worth approximately $71,000. Creative Planning purchased a new stake in shares of Beeline during the second quarter valued at approximately $51,000. Finally, EMG Holdings L.P. purchased a new stake in shares of Beeline during the first quarter valued at approximately $360,000. 0.58% of the stock is owned by hedge funds and other institutional investors.

Beeline Company Profile

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.