Heritage Distilling (NASDAQ:IPST) Posts Earnings Results

Heritage Distilling (NASDAQ:IPST) announced its quarterly earnings data on Wednesday. The company reported ($134.70) EPS for the quarter, FiscalAI reports. The business had revenue of $1.71 million during the quarter. Heritage Distilling had a negative net margin of 1,360.95% and a negative return on equity of 258.58%.

Heritage Distilling Stock Up 1.9%

Shares of NASDAQ:IPST opened at $5.92 on Thursday. The company has a market cap of $3.15 million, a P/E ratio of -0.01 and a beta of 5.06. Heritage Distilling has a 52 week low of $4.25 and a 52 week high of $532.00. The business has a fifty day simple moving average of $7.21 and a 200-day simple moving average of $53.20.

Analyst Upgrades and Downgrades

IPST has been the subject of a number of recent analyst reports. Roth Mkm initiated coverage on Heritage Distilling in a research report on Friday, January 23rd. They issued a “buy” rating and a $164.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Heritage Distilling in a research report on Friday, March 27th. Finally, Zacks Research raised Heritage Distilling to a “hold” rating in a research report on Monday, January 26th. One investment 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $164.00.

Institutional Investors Weigh In On Heritage Distilling

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Heritage Distilling during the third quarter valued at about $36,000. CIBC Bancorp USA Inc. purchased a new stake in Heritage Distilling during the third quarter valued at about $353,000. CIBC Private Wealth Group LLC purchased a new stake in Heritage Distilling during the third quarter valued at about $361,000. Arrington Capital Management LLC purchased a new stake in Heritage Distilling during the fourth quarter valued at about $645,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in Heritage Distilling during the third quarter valued at about $2,717,000.

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.