Eastside Distilling (NASDAQ:EAST) Share Price Passes Below 50 Day Moving Average of $1.07

Shares of Eastside Distilling, Inc. (NASDAQ:EAST) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $1.07 and traded as low as $0.85. Eastside Distilling shares last traded at $0.96, with a volume of 75,088 shares traded.

Analyst Ratings Changes

Separately, Roth Mkm reduced their price target on shares of Eastside Distilling from $5.00 to $3.50 and set a “buy” rating on the stock in a research report on Monday, April 8th.

Eastside Distilling Stock Up 8.5 %

The company has a debt-to-equity ratio of 3.17, a current ratio of 1.08 and a quick ratio of 0.32. The firm’s 50-day moving average price is $1.07 and its 200 day moving average price is $1.20. The firm has a market cap of $1.63 million, a P/E ratio of -0.18 and a beta of 1.78.

Hedge Funds Weigh In On Eastside Distilling

An institutional investor recently raised its position in Eastside Distilling stock. Renaissance Technologies LLC lifted its stake in shares of Eastside Distilling, Inc. (NASDAQ:EAST) by 51.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111,570 shares of the company’s stock after purchasing an additional 38,000 shares during the period. Renaissance Technologies LLC owned about 0.72% of Eastside Distilling worth $31,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 0.58% of the company’s stock.

Eastside Distilling Company Profile

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.