Heritage Distilling (NASDAQ:IPST) Releases Quarterly Earnings Results

Heritage Distilling (NASDAQ:IPST) released its quarterly earnings results on Monday. The company reported $0.05 earnings per share (EPS) for the quarter, Zacks reports.

Heritage Distilling Trading Down 8.7%

NASDAQ IPST opened at $9.61 on Wednesday. Heritage Distilling has a 12 month low of $5.31 and a 12 month high of $80.00. The stock has a market cap of $88.12 million and a price-to-earnings ratio of -0.05. The company’s 50 day moving average is $12.86 and its two-hundred day moving average is $11.06.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Heritage Distilling in a research report on Wednesday, November 12th. Wall Street Zen downgraded shares of Heritage Distilling from a “hold” rating to a “strong sell” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat, Heritage Distilling has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Heritage Distilling stock. Polar Asset Management Partners Inc. bought a new position in Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,309,615 shares of the company’s stock, valued at approximately $2,717,000. Polar Asset Management Partners Inc. owned approximately 36.09% of Heritage Distilling as of its most recent filing with the Securities & Exchange Commission.

About Heritage Distilling

Heritage Distilling Holding Company Inc is a craft distiller of premium brands, including whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails. Heritage Distilling Holding Company Inc is based in GIG HARBOR, Wash.