Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) Shares Shorted: Short Interest Up 201.7% in September

Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 30,915 shares, an increase of 201.7% from the September 15th total of 10,247 shares. Based on an average trading volume of 510,729 shares, the short-interest ratio is currently 0.1 days. Approximately 4.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Heritage Distilling in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $164.00.

Heritage Distilling Stock Down 1.1%

Shares of IPST traded down $0.03 during trading hours on Tuesday, hitting $2.82. The company had a trading volume of 20,424 shares, compared to its average volume of 875,403. The stock has a market capitalization of $2.03 million, a price-to-earnings ratio of -0.01 and a beta of 5.38. The firm has a fifty day moving average price of $4.09 and a 200-day moving average price of $4.39. Heritage Distilling has a 52-week low of $1.54 and a 52-week high of $308.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.26 and a current ratio of 0.43.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Heritage Distilling stock. Arrington Capital Management LLC purchased a new stake in shares of Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 413,701 shares of the company’s stock, valued at approximately $645,000. Heritage Distilling comprises approximately 0.6% of Arrington Capital Management LLC’s holdings, making the stock its 18th biggest position. Arrington Capital Management LLC owned 4.33% of Heritage Distilling as of its most recent filing with the Securities & Exchange Commission.

About Heritage Distilling

Heritage Distilling Company, Inc is a craft spirits producer based in Washington state. The company distills, blends, bottles and sells alcoholic beverages, with a portfolio that includes whiskey, bourbon, flavored whiskey, vodka, gin and other spirits. Its products are marketed under brands such as BSB (Brown Sugar Bourbon) and Elk Rider.

In addition to producing its own brands, Heritage Distilling operates tasting rooms and offers direct-to-consumer sales, including online and on-premises retail channels where permitted.