Eastside Distilling, Inc. (NASDAQ:EAST) Sees Large Growth in Short Interest

Eastside Distilling, Inc. (NASDAQ:EAST) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 69,400 shares, an increase of 41.3% from the August 15th total of 49,100 shares. Currently, 5.4% of the shares of the company are sold short. Based on an average daily volume of 2,320,000 shares, the days-to-cover ratio is presently 0.0 days.

Eastside Distilling Stock Performance

Shares of NASDAQ EAST traded down $0.02 during trading on Monday, hitting $0.61. The company had a trading volume of 176,497 shares, compared to its average volume of 931,793. Eastside Distilling has a 12 month low of $0.58 and a 12 month high of $2.98. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.11 and a current ratio of 0.29. The firm has a market capitalization of $1.07 million, a P/E ratio of -0.11 and a beta of 1.78. The stock has a 50 day simple moving average of $0.90 and a 200 day simple moving average of $1.00.

Eastside Distilling (NASDAQ:EAST) last released its earnings results on Wednesday, August 14th. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.05). The firm had revenue of $3.06 million for the quarter, compared to the consensus estimate of $2.58 million. Eastside Distilling had a negative return on equity of 2,066.36% and a negative net margin of 66.06%. During the same quarter in the previous year, the business posted ($1.96) EPS. As a group, analysts anticipate that Eastside Distilling will post -2.63 earnings per share for the current year.

About Eastside Distilling

Eastside Distilling, Inc manufactures, acquires, blends, bottles, imports, exports, markets, and sells various alcoholic beverages. It operates through two segments, Spirits and Craft Canning + Printing. 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.