Roth Capital Begins Coverage on Eastside Distilling, Inc. (ESDI)
Roth Capital started coverage on shares of Eastside Distilling, Inc. (NASDAQ:ESDI) in a research report sent to investors on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $7.00 price objective on the stock.
Separately, ValuEngine upgraded shares of Eastside Distilling from a strong sell rating to a sell rating in a research note on Friday, September 1st.
Eastside Distilling (NASDAQ:ESDI) opened at 3.78 on Friday. The stock has a 50 day moving average of $4.53 and a 200-day moving average of $3.29. Eastside Distilling has a 52 week low of $3.35 and a 52 week high of $12.00. The stock’s market cap is $12.63 million.
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In other Eastside Distilling news, major shareholder Glenbrook Capital Lp bought 60,726 shares of Eastside Distilling stock in a transaction on Thursday, August 10th. The stock was purchased at an average cost of $4.49 per share, for a total transaction of $272,659.74. Following the completion of the purchase, the insider now directly owns 526,913 shares of the company’s stock, valued at $2,365,839.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Grover T. Wickersham bought 7,000 shares of Eastside Distilling stock in a transaction on Wednesday, August 16th. The stock was acquired at an average price of $3.89 per share, with a total value of $27,230.00. Following the completion of the purchase, the chairman now directly owns 97,114 shares of the company’s stock, valued at $377,773.46. The disclosure for this purchase can be found here. Insiders acquired 131,181 shares of company stock valued at $589,124 over the last quarter. Corporate insiders own 63.14% of the company’s stock.
Eastside Distilling Company Profile
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.
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