Heritage Distilling (NASDAQ:IPST) Posts Earnings Results

Heritage Distilling (NASDAQ:IPST) issued its earnings results on Friday. The company reported ($13.30) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $0.74 million during the quarter. Heritage Distilling had a negative return on equity of 242.58% and a negative net margin of 1,875.66%.

Heritage Distilling Stock Performance

IPST traded down $0.59 on Friday, reaching $2.03. The company had a trading volume of 24,553 shares, compared to its average volume of 278,064. The stock has a 50-day moving average price of $4.17 and a 200-day moving average price of $4.22. Heritage Distilling has a 1 year low of $1.54 and a 1 year high of $308.00. The stock has a market capitalization of $1.46 million, a PE ratio of -0.01 and a beta of 5.38. The company has a quick ratio of 0.26, a current ratio of 0.43 and a debt-to-equity ratio of 0.01.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Heritage Distilling in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $164.00.

Heritage Distilling Company Profile

Heritage Distilling Company, Inc is a craft spirits producer based in Washington state. The company distills, blends, bottles and sells alcoholic beverages, with a portfolio that includes whiskey, bourbon, flavored whiskey, vodka, gin and other spirits. Its products are marketed under brands such as BSB (Brown Sugar Bourbon) and Elk Rider.

In addition to producing its own brands, Heritage Distilling operates tasting rooms and offers direct-to-consumer sales, including online and on-premises retail channels where permitted.