Citadel Advisors LLC Takes $48,000 Position in Eastside Distilling Inc (NASDAQ:EAST)

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Citadel Advisors LLC purchased a new position in Eastside Distilling Inc (NASDAQ:EAST) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,563 shares of the company’s stock, valued at approximately $48,000. Citadel Advisors LLC owned 0.12% of Eastside Distilling at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. First Wilshire Securities Management Inc. purchased a new position in Eastside Distilling in the 2nd quarter worth about $45,000. Connors Investor Services Inc. increased its stake in Eastside Distilling by 10.4% in the 2nd quarter. Connors Investor Services Inc. now owns 62,436 shares of the company’s stock worth $281,000 after buying an additional 5,900 shares during the period. BlackRock Inc. increased its stake in Eastside Distilling by 27.4% in the 2nd quarter. BlackRock Inc. now owns 22,344 shares of the company’s stock worth $101,000 after buying an additional 4,810 shares during the period. Finally, ARS Investment Partners LLC increased its stake in Eastside Distilling by 52.2% in the 2nd quarter. ARS Investment Partners LLC now owns 587,361 shares of the company’s stock worth $2,643,000 after buying an additional 201,359 shares during the period. 33.57% of the stock is currently owned by institutional investors.

Separately, ValuEngine raised shares of Eastside Distilling from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd.

EAST stock opened at $4.88 on Friday. The company has a market capitalization of $44.71 million, a PE ratio of -3.28 and a beta of 0.42. Eastside Distilling Inc has a 12 month low of $3.32 and a 12 month high of $8.74. The firm’s 50-day moving average is $4.89 and its 200 day moving average is $4.91. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.67 and a quick ratio of 1.10.

Eastside Distilling (NASDAQ:EAST) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.12). The company had revenue of $3.90 million during the quarter, compared to analysts’ expectations of $4.26 million. Eastside Distilling had a negative return on equity of 72.28% and a negative net margin of 108.78%. Sell-side analysts forecast that Eastside Distilling Inc will post -1.08 EPS for the current fiscal year.

Eastside Distilling Company Profile

Eastside Distilling, Inc develops, manufactures, produces, and markets hand-crafted spirits in the United States. The company offers bourbon under the Burnside West End Blend, Burnside Oregon Oaked Bourbon, and Burnside Goose Hollow RSV Bourbon brand names; premium whiskey under the Barrel Hitch American Whiskey brand names; distinctive whiskey under the Cherry Bomb Whiskey and Marionberry Whiskey brand names; rum under the Below Deck Silver Rum, Below Deck Spiced Rum, Below Deck Coffee Rum, and Below Deck Ginger Rum brand names; and vodka under the Portland Potato Vodka brand name.

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Institutional Ownership by Quarter for Eastside Distilling (NASDAQ:EAST)

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