Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) Sees Large Increase in Short Interest

Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 30,915 shares, a growth of 201.7% from the September 15th total of 10,247 shares. Based on an average daily trading volume, of 510,729 shares, the short-interest ratio is presently 0.1 days. Currently, 4.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Heritage Distilling stock. Arrington Capital Management LLC acquired a new stake in shares of Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 413,701 shares of the company’s stock, valued at approximately $645,000. Heritage Distilling comprises approximately 0.6% of Arrington Capital Management LLC’s holdings, making the stock its 18th biggest position. Arrington Capital Management LLC owned 4.33% of Heritage Distilling at the end of the most recent reporting period.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Heritage Distilling in a report on Wednesday, July 15th. One investment 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 MarketBeat.com, Heritage Distilling has an average rating of “Hold” and a consensus target price of $164.00.

Heritage Distilling Price Performance

Shares of IPST opened at $2.82 on Wednesday. Heritage Distilling has a 12-month low of $1.54 and a 12-month high of $308.00. The business’s fifty day moving average is $4.10 and its 200 day moving average is $4.37. The company has a quick ratio of 0.26, a current ratio of 0.43 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.03 million, a P/E ratio of -0.01 and a beta of 5.38.

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.