Beeline (NASDAQ:BLNE) Director Acquires $42,200.00 in Stock

Beeline Holdings, Inc. (NASDAQ:BLNE) Director Joseph David Freedman purchased 10,000 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were bought at an average cost of $4.22 per share, for a total transaction of $42,200.00. Following the acquisition, the director owned 165,920 shares in the company, valued at approximately $700,182.40. The trade was a 6.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Beeline Stock Performance

Shares of NASDAQ:BLNE opened at $3.92 on Tuesday. The firm has a market cap of $76.87 million, a price-to-earnings ratio of -0.11 and a beta of 1.27. The firm has a fifty day moving average price of $2.38 and a 200 day moving average price of $1.72. Beeline Holdings, Inc. has a fifty-two week low of $0.62 and a fifty-two week high of $10.50.

Beeline (NASDAQ:BLNE) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.41) EPS for the quarter. The business had revenue of $1.72 million for the quarter. Beeline had a negative net margin of 288.26% and a negative return on equity of 41.66%.

Institutional Investors Weigh In On Beeline

Large investors have recently made changes to their positions in the company. Corsair Capital Management L.P. purchased a new position in Beeline during the 2nd quarter worth approximately $30,000. Creative Planning purchased a new stake in shares of Beeline in the second quarter worth approximately $51,000. NewEdge Advisors LLC purchased a new stake in shares of Beeline during the second quarter worth $55,000. Worth Venture Partners LLC purchased a new position in Beeline in the second quarter valued at about $71,000. Finally, EMG Holdings L.P. purchased a new stake in shares of Beeline during the 1st quarter worth about $360,000. Institutional investors and hedge funds own 0.58% of the company’s stock.

Analysts Set New Price Targets

Separately, LADENBURG THALM/SH SH upgraded shares of Beeline to a “strong-buy” rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Beeline has a consensus rating of “Strong Buy”.

About Beeline

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