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

Beeline Holdings, Inc. (NASDAQ:BLNE) saw a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 1,184,340 shares, a growth of 51.5% from the January 15th total of 781,709 shares. Based on an average trading volume of 1,640,333 shares, the short-interest ratio is presently 0.7 days. Currently, 6.4% of the shares of the stock are short sold. Currently, 6.4% of the shares of the stock are short sold. Based on an average trading volume of 1,640,333 shares, the short-interest ratio is presently 0.7 days.

Insiders Place Their Bets

In other news, CFO Christopher R. Moe bought 20,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was purchased at an average cost of $1.68 per share, for a total transaction of $33,600.00. Following the completion of the transaction, the chief financial officer owned 40,000 shares of the company’s stock, valued at $67,200. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 33.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Beeline

Large investors have recently bought and sold shares of the stock. Creative Planning acquired a new position in shares of Beeline during the second quarter valued at about $51,000. Worth Venture Partners LLC bought a new stake in Beeline in the 2nd quarter valued at about $71,000. Corsair Capital Management L.P. acquired a new position in Beeline during the 2nd quarter worth approximately $30,000. NewEdge Advisors LLC bought a new position in Beeline in the second quarter worth approximately $55,000. Finally, Relyea Zuckerberg Hanson LLC acquired a new stake in Beeline in the third quarter valued at approximately $55,000. 0.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BLNE. Wall Street Zen raised shares of Beeline from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beeline in a research report on Monday, December 29th. Finally, LADENBURG THALM/SH SH upgraded Beeline to a “strong-buy” rating in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Beeline has a consensus rating of “Moderate Buy”.

Beeline Trading Up 2.4%

NASDAQ BLNE traded up $0.07 during trading hours on Friday, hitting $3.03. 647,617 shares of the company’s stock were exchanged, compared to its average volume of 1,260,857. Beeline has a 1-year low of $0.62 and a 1-year high of $8.40. The stock has a 50-day simple moving average of $2.52 and a 200 day simple moving average of $2.51. The firm has a market cap of $84.10 million, a price-to-earnings ratio of -0.45 and a beta of 1.66.

About Beeline

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.