ValuEngine upgraded shares of Eastside Distilling, Inc. (NASDAQ:ESDI) from a strong sell rating to a sell rating in a research report released on Friday morning.

Shares of Eastside Distilling (ESDI) traded up 0.26% during midday trading on Friday, hitting $3.90. 4,013 shares of the company’s stock were exchanged. Eastside Distilling has a 1-year low of $3.35 and a 1-year high of $12.00. The stock’s 50 day moving average is $5.15 and its 200-day moving average is $3.14. The stock’s market cap is $13.03 million.

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In related news, Chairman Grover T. Wickersham purchased 55,555 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average cost of $4.49 per share, with a total value of $249,441.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Glenbrook Capital Lp purchased 60,726 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average cost of $4.49 per share, for a total transaction of $272,659.74. Following the completion of the acquisition, the insider now directly owns 526,913 shares of the company’s stock, valued at $2,365,839.37. The disclosure for this purchase can be found here. Insiders purchased 131,181 shares of company stock worth $589,124 over the last ninety days. 63.14% of the stock is currently owned by corporate insiders.

About Eastside Distilling

Eastside Distilling, Inc (Eastside) is a manufacturer, developer, producer and marketer of master-crafted spirits. The Company’s beverage alcohol categories include bourbon, whiskey, rum and vodka. The Company operates through the marketing and distributing of hand-crafted spirits segment. Its brands include Burnside Bourbon, Burnside Oregon Oaked Bourbon, Barrel Hitch American Whiskey, Barrel Hitch Oregon Oak American Whiskey, Below Deck Silver Rum, Below Deck Ginger Rum, Below Deck Coffee Rum, Below Deck Spiced Rum, Portland Potato Vodka, Marionberry Whiskey and Cherry Bomb Whiskey.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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