Heritage Distilling (NASDAQ:IPST) Trading Up 9% – Time to Buy?

Heritage Distilling Holding Company, Inc. (NASDAQ:IPST)’s stock price rose 9% during mid-day trading on Thursday . The company traded as high as $0.9368 and last traded at $0.8664. Approximately 4,283,928 shares changed hands during mid-day trading, an increase of 4,447% from the average daily volume of 94,209 shares. The stock had previously closed at $0.7950.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IPST shares. Roth Mkm assumed coverage on shares of Heritage Distilling in a research note on Friday, January 23rd. They issued a “buy” rating and a $8.20 price target on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Heritage Distilling in a report on Monday, December 29th. Wall Street Zen raised Heritage Distilling from a “strong sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Finally, Zacks Research raised shares of Heritage Distilling to a “hold” rating in a research report on Monday, January 26th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.20.

Heritage Distilling Stock Up 9.0%

The company has a market cap of $8.28 million, a price-to-earnings ratio of -0.04 and a beta of 6.01. The stock’s 50-day simple moving average is $1.73 and its 200 day simple moving average is $7.71.

Heritage Distilling (NASDAQ:IPST) last released its quarterly earnings results on Tuesday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter. Heritage Distilling had a net margin of 2,132.99% and a negative return on equity of 13.65%. The business had revenue of $2.99 million for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IPST. Polar Asset Management Partners Inc. purchased a new position in shares of Heritage Distilling during the third quarter worth $2,717,000. CIBC Private Wealth Group LLC acquired a new position in Heritage Distilling during the 3rd quarter worth about $361,000. CIBC Bancorp USA Inc. acquired a new position in Heritage Distilling during the 3rd quarter worth about $353,000. Virtu Financial LLC purchased a new position in Heritage Distilling during the 3rd quarter valued at about $36,000. Finally, Arrington Capital Management LLC acquired a new position in Heritage Distilling in the 4th quarter valued at about $645,000.

Heritage Distilling Company Profile

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.