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

Beeline Holdings, Inc. (NASDAQ:BLNE) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 1,020,000 shares, a decline of 25.5% from the August 31st total of 1,370,000 shares. Currently, 5.9% of the company’s shares are short sold. Based on an average trading volume of 3,460,000 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 3,460,000 shares, the short-interest ratio is currently 0.3 days. Currently, 5.9% of the company’s shares are short sold.

Insider Activity

In other Beeline news, CFO Christopher R. Moe bought 20,000 shares of Beeline stock in a transaction on Wednesday, September 3rd. The shares were purchased at an average cost of $1.64 per share, for a total transaction of $32,800.00. Following the completion of the acquisition, the chief financial officer owned 20,000 shares in the company, valued at approximately $32,800. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph David Freedman purchased 10,000 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was purchased at an average price of $4.22 per share, for a total transaction of $42,200.00. Following the completion of the acquisition, the director owned 165,920 shares of the company’s stock, valued at approximately $700,182.40. This represents a 6.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 33.20% of the company’s stock.

Hedge Funds Weigh In On Beeline

A number of institutional investors have recently bought and sold shares of the business. Corsair Capital Management L.P. acquired a new position in Beeline during the second quarter worth approximately $30,000. Creative Planning acquired a new position in Beeline during the second quarter worth approximately $51,000. NewEdge Advisors LLC acquired a new position in Beeline during the second quarter worth approximately $55,000. Worth Venture Partners LLC acquired a new position in Beeline during the second quarter worth approximately $71,000. Finally, EMG Holdings L.P. acquired a new position in Beeline during the first quarter worth approximately $360,000. Institutional investors and hedge funds own 0.58% of the company’s stock.

Beeline Stock Performance

BLNE opened at $3.40 on Thursday. Beeline has a 52-week low of $0.62 and a 52-week high of $10.50. The firm has a market capitalization of $66.78 million, a PE ratio of -0.09 and a beta of 1.53. The business’s 50-day simple moving average is $2.60 and its 200 day simple moving average is $1.78.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. LADENBURG THALM/SH SH upgraded Beeline to a “strong-buy” rating in a report on Wednesday, July 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beeline in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Beeline has a consensus rating of “Moderate Buy”.

Beeline Company Profile

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.