Beeline Holdings, Inc. (NASDAQ:BLNE) Short Interest Update

Beeline Holdings, Inc. (NASDAQ:BLNE) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 630,675 shares, a decline of 23.3% from the December 15th total of 821,852 shares. Based on an average daily trading volume, of 423,283 shares, the days-to-cover ratio is currently 1.5 days. Currently, 3.4% of the company’s shares are sold short. Currently, 3.4% of the company’s shares are sold short. Based on an average daily trading volume, of 423,283 shares, the days-to-cover ratio is currently 1.5 days.

Insiders Place Their Bets

In related news, CFO Christopher R. Moe purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $1.68 per share, for a total transaction of $33,600.00. Following the acquisition, the chief financial officer directly owned 40,000 shares in the company, valued at $67,200. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 33.20% of the company’s stock.

Institutional Trading of Beeline

Several large investors have recently added to or reduced their stakes in BLNE. NewEdge Advisors LLC increased its holdings in shares of Beeline by 2,932.2% in the third quarter. NewEdge Advisors LLC now owns 1,121,900 shares of the company’s stock valued at $4,443,000 after purchasing an additional 1,084,900 shares in the last quarter. Vanguard Group Inc. bought a new stake in shares of Beeline during the third quarter worth approximately $1,330,000. Worth Venture Partners LLC acquired a new position in Beeline in the second quarter valued at approximately $71,000. Creative Planning bought a new position in shares of Beeline in the 2nd quarter worth $51,000. Finally, Scientech Research LLC acquired a new stake in shares of Beeline during the third quarter worth $89,000. 0.58% of the stock is owned by institutional investors.

Beeline Trading Up 11.2%

NASDAQ BLNE traded up $0.31 during trading on Friday, hitting $3.07. 2,022,292 shares of the company traded hands, compared to its average volume of 641,119. Beeline has a 12 month low of $0.62 and a 12 month high of $10.50. The business has a fifty day simple moving average of $1.95 and a 200 day simple moving average of $2.29. The company has a market capitalization of $85.19 million, a P/E ratio of -0.46 and a beta of 1.62.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BLNE shares. Wall Street Zen raised Beeline from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. LADENBURG THALM/SH SH upgraded Beeline to a “strong-buy” rating in a research report on Thursday, December 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Beeline in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Beeline Company Profile

Eastside Distilling, Inc manufactures, acquires, blends, bottles, imports, exports, markets, and sells various alcoholic beverages. It operates through two segments, Spirits and Craft Canning and Bottling. The company provides whiskey under the Burnside Whiskey brand; vodka under the Portland Potato Vodka brand; rum under the Hue-Hue Coffee Rum brand; and tequila under the Azuñia Tequila brand. It also offers gin and ready-to-drink products; and canning and bottling services to the craft beer and cider industries.