Beeline Holdings, Inc. (NASDAQ:BLNE) Sees Significant Increase in Short Interest

Beeline Holdings, Inc. (NASDAQ:BLNE) was the target of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 1,184,340 shares, a growth of 51.5% from the January 15th total of 781,709 shares. Approximately 6.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,640,333 shares, the short-interest ratio is presently 0.7 days. Based on an average daily trading volume, of 1,640,333 shares, the short-interest ratio is presently 0.7 days. Approximately 6.4% of the company’s stock are sold short.

Beeline Stock Up 2.4%

Shares of NASDAQ:BLNE opened at $3.03 on Friday. The stock has a market capitalization of $84.08 million, a PE ratio of -0.45 and a beta of 1.66. The firm’s 50 day moving average price is $2.52 and its 200-day moving average price is $2.51. Beeline has a twelve month low of $0.62 and a twelve month high of $8.40.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLNE. Wall Street Zen raised shares of Beeline from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. LADENBURG THALM/SH SH upgraded shares of Beeline to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beeline in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Insider Transactions at Beeline

In other news, CFO Christopher R. Moe bought 20,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were purchased at an average price of $1.68 per share, for a total transaction of $33,600.00. Following the completion of the purchase, the chief financial officer owned 40,000 shares in the company, valued at approximately $67,200. This represents a 100.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 33.20% of the company’s stock.

Institutional Investors Weigh In On Beeline

Hedge funds have recently modified their holdings of the business. LPL Financial LLC purchased a new stake in shares of Beeline in the 4th quarter worth $29,000. Corsair Capital Management L.P. bought a new stake in Beeline during the second quarter valued at about $30,000. Manchester Financial Inc. purchased a new stake in Beeline in the fourth quarter worth about $31,000. GRIMES & Co WEALTH MANAGEMENT LLC purchased a new stake in Beeline in the fourth quarter worth about $32,000. Finally, HRT Financial LP bought a new position in shares of Beeline in the fourth quarter worth about $34,000. Institutional investors own 0.58% of the company’s stock.

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. It also offers gin and ready-to-drink products; and canning and bottling services to the craft beer and cider industries.