Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) Shares Shorted: Short Interest Up 498.7% in October

Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) was the target of a significant growth in short interest in October. As of October 30th, there was short interest totaling 101,720 shares, a growth of 498.7% from the October 15th total of 16,991 shares. Based on an average daily trading volume, of 1,803,696 shares, the days-to-cover ratio is presently 0.1 days. Currently, 10.6% of the company’s stock are sold short.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Heritage Distilling to a “sell” rating in a research report on Saturday, October 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heritage Distilling in a research note on Tuesday, October 13th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $164.00.

Heritage Distilling Stock Up 2.5%

Heritage Distilling stock traded up $0.06 during trading hours on Wednesday, hitting $2.23. The company had a trading volume of 3,709 shares, compared to its average volume of 883,907. Heritage Distilling has a fifty-two week low of $1.54 and a fifty-two week high of $301.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.31 and a quick ratio of 0.15. The firm has a market capitalization of $2.23 million, a P/E ratio of -0.13 and a beta of 5.32. The firm’s fifty day moving average is $2.92 and its 200-day moving average is $6.54.

Heritage Distilling (NASDAQ:IPST) last posted its quarterly earnings results on Friday, October 23rd. The company reported ($13.30) EPS for the quarter. Heritage Distilling had a negative net margin of 2,064.21% and a negative return on equity of 239.27%. The company had revenue of $0.74 million for the quarter.

Heritage Distilling Company Profile

Heritage Distilling Company is a craft spirits producer based in Washington state. The company develops, distills, ages, bottles and sells a range of alcoholic beverages, including whiskey, bourbon, vodka, gin, rum and other specialty spirits. Its portfolio also includes ready-to-drink cocktails and flavored or infused spirit products. Founded in 2011 by Justin and Jenny Stiefel, Heritage Distilling has built its business around small-batch production and consumer-focused distillery experiences.