Heritage Distilling (NASDAQ:IPST) Announces Quarterly Earnings Results

Heritage Distilling (NASDAQ:IPST) issued its quarterly earnings data on Tuesday. The company reported ($59.61) EPS for the quarter, FiscalAI reports. The firm had revenue of $4.72 million for the quarter. Heritage Distilling had a net margin of 2,132.99% and a negative return on equity of 13.65%.

Heritage Distilling Price Performance

IPST stock opened at $0.50 on Wednesday. Heritage Distilling has a one year low of $0.24 and a one year high of $26.60. The stock has a market cap of $5.15 million, a PE ratio of -0.02 and a beta of 6.41. The firm has a 50 day simple moving average of $0.56 and a two-hundred day simple moving average of $4.99.

Hedge Funds Weigh In On Heritage Distilling

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Roth Mkm assumed coverage on shares of Heritage Distilling in a research note on Friday, January 23rd. They set a “buy” rating and a $8.20 price objective for the company. Zacks Research raised Heritage Distilling to a “hold” rating in a report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Heritage Distilling in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Heritage Distilling currently has an average rating of “Hold” and a consensus target price of $8.20.

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.