Heritage Distilling (NASDAQ:IPST) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Heritage Distilling (NASDAQ:IPST) from a hold rating to a strong sell rating in a research note released on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heritage Distilling in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Heritage Distilling currently has a consensus rating of “Sell”.

Heritage Distilling Stock Down 3.8%

Shares of NASDAQ:IPST traded down $0.56 during trading on Friday, hitting $14.26. The stock had a trading volume of 22,499 shares, compared to its average volume of 40,842. The stock has a 50-day simple moving average of $12.81 and a two-hundred day simple moving average of $11.05. The stock has a market capitalization of $130.76 million and a price-to-earnings ratio of -0.08. Heritage Distilling has a 12-month low of $5.31 and a 12-month high of $80.00.

Heritage Distilling (NASDAQ:IPST) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($15.40) EPS for the quarter. The business had revenue of $1.32 million for the quarter.

Hedge Funds Weigh In On Heritage Distilling

Large investors have recently bought and sold shares of the business. Wealth Preservation Advisors LLC acquired a new stake in Heritage Distilling in the first quarter valued at approximately $26,000. Virtu Financial LLC purchased a new position in shares of Heritage Distilling during the 3rd quarter valued at approximately $36,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in Heritage Distilling in the 3rd quarter valued at $2,717,000.

Heritage Distilling Company Profile

Heritage Distilling Holding Company Inc is a craft distiller of premium brands, including whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails. Heritage Distilling Holding Company Inc is based in GIG HARBOR, Wash.