Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) Short Interest Update

Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 31,373 shares, a drop of 93.6% from the April 15th total of 487,956 shares. Approximately 6.3% of the company’s shares are sold short. Based on an average daily volume of 77,637 shares, the days-to-cover ratio is currently 0.4 days.

Heritage Distilling Trading Down 1.9%

Heritage Distilling stock traded down $0.10 during midday trading on Monday, reaching $5.16. 11,267 shares of the stock traded hands, compared to its average volume of 83,482. The company has a 50-day simple moving average of $8.03 and a two-hundred day simple moving average of $65.01. Heritage Distilling has a 12-month low of $4.25 and a 12-month high of $532.00. The firm has a market cap of $2.63 million, a PE ratio of -0.01 and a beta of 5.06.

Heritage Distilling (NASDAQ:IPST) last announced its earnings results on Tuesday, April 14th. The company reported ($1,192.20) EPS for the quarter. Heritage Distilling had a negative net margin of 1,360.95% and a negative return on equity of 258.58%. The firm had revenue of $4.72 million for the quarter.

Hedge Funds Weigh In On Heritage Distilling

A number of hedge funds and other institutional investors have recently bought and sold shares of IPST. Virtu Financial LLC purchased a new position in Heritage Distilling during the 3rd quarter valued at about $36,000. CIBC Bancorp USA Inc. purchased a new position in Heritage Distilling during the 3rd quarter valued at about $353,000. CIBC Private Wealth Group LLC purchased a new position in Heritage Distilling during the 3rd quarter valued at about $361,000. Arrington Capital Management LLC purchased a new position in shares of Heritage Distilling in the 4th quarter valued at about $645,000. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Heritage Distilling in the 3rd quarter valued at about $2,717,000.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Heritage Distilling in a research report on Friday, March 27th. Zacks Research raised Heritage Distilling to a “hold” rating in a research report on Monday, January 26th. Finally, Roth Mkm assumed coverage on Heritage Distilling in a research report on Friday, January 23rd. They set a “buy” rating and a $164.00 price objective for the company. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Heritage Distilling presently has an average rating of “Hold” and a consensus target price of $164.00.

About Heritage Distilling

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.