Heritage Distilling (NASDAQ:IPST) Upgraded to “Hold” at Wall Street Zen

Heritage Distilling (NASDAQ:IPST) was upgraded by research analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a report released on Sunday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Heritage Distilling in a research report on Tuesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Heritage Distilling presently has a consensus rating of “Sell”.

Heritage Distilling Trading Down 9.8%

Shares of IPST stock opened at $8.56 on Friday. The company’s fifty day moving average price is $12.86 and its 200-day moving average price is $11.05. The stock has a market cap of $78.50 million and a PE ratio of -0.05. Heritage Distilling has a 12 month low of $5.31 and a 12 month high of $80.00.

Heritage Distilling (NASDAQ:IPST) last issued its quarterly earnings results on Monday, November 17th. The company reported $0.05 earnings per share (EPS) for the quarter. Heritage Distilling had a net margin of 2,132.99% and a negative return on equity of 13.65%. The company had revenue of $2.99 million during the quarter.

Hedge Funds Weigh In On Heritage Distilling

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Preservation Advisors LLC bought a new stake in shares of Heritage Distilling in the 1st quarter worth $26,000. Virtu Financial LLC purchased a new stake in shares of Heritage Distilling during the third quarter valued at $36,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Heritage Distilling during the third quarter valued at $353,000. Finally, Polar Asset Management Partners Inc. bought a new stake in Heritage Distilling in the 3rd quarter worth about $2,717,000.

About Heritage Distilling

Heritage Distilling Holding Company Inc is a craft distiller of premium brands, including whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails. Heritage Distilling Holding Company Inc is based in GIG HARBOR, Wash.