Eastside Distilling (EAST) Issues Earnings Results, Misses Estimates By $0.19 EPS

Eastside Distilling (NASDAQ:EAST) announced its earnings results on Thursday, March 28th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.19), Morningstar.com reports. Eastside Distilling had a negative net margin of 147.77% and a negative return on equity of 88.22%. The company had revenue of $1.89 million for the quarter, compared to analysts’ expectations of $2.00 million.

Shares of NASDAQ:EAST traded down $0.03 during trading on Friday, reaching $5.84. The company’s stock had a trading volume of 7,739 shares, compared to its average volume of 31,454. The company has a current ratio of 9.90, a quick ratio of 5.26 and a debt-to-equity ratio of 0.16. Eastside Distilling has a 12 month low of $5.49 and a 12 month high of $9.25. The company has a market cap of $53.16 million, a price-to-earnings ratio of -3.92 and a beta of 0.30.

Several large investors have recently made changes to their positions in the stock. Skylands Capital LLC raised its position in Eastside Distilling by 155.3% in the 4th quarter. Skylands Capital LLC now owns 206,739 shares of the company’s stock worth $1,278,000 after purchasing an additional 125,750 shares during the period. ARS Investment Partners LLC raised its position in Eastside Distilling by 4.7% in the 4th quarter. ARS Investment Partners LLC now owns 282,823 shares of the company’s stock worth $1,748,000 after purchasing an additional 12,585 shares during the period. Ashford Capital Management Inc. raised its position in Eastside Distilling by 40.0% in the 4th quarter. Ashford Capital Management Inc. now owns 70,000 shares of the company’s stock worth $433,000 after purchasing an additional 20,000 shares during the period. FNY Investment Advisers LLC raised its position in Eastside Distilling by 586.9% in the 4th quarter. FNY Investment Advisers LLC now owns 113,201 shares of the company’s stock worth $699,000 after purchasing an additional 96,722 shares during the period. Finally, Orca Investment Management LLC raised its position in Eastside Distilling by 33.4% in the 4th quarter. Orca Investment Management LLC now owns 621,171 shares of the company’s stock worth $3,839,000 after purchasing an additional 155,653 shares during the period. 25.68% of the stock is owned by hedge funds and other institutional investors.

Separately, ValuEngine downgraded shares of Eastside Distilling from a “buy” rating to a “hold” rating in a report on Thursday, February 28th.

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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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Earnings History for Eastside Distilling (NASDAQ:EAST)

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