Beeline (NASDAQ:BLNE) Upgraded at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Beeline (NASDAQ:BLNE) to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.

A number of other brokerages have also issued reports on BLNE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beeline in a report on Monday, December 15th. Wall Street Zen lowered shares of Beeline from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Beeline Trading Up 3.0%

NASDAQ:BLNE opened at $2.03 on Thursday. The stock has a 50-day moving average price of $2.31 and a 200 day moving average price of $2.14. The stock has a market capitalization of $56.33 million, a P/E ratio of -0.30 and a beta of 1.55. Beeline has a 12-month low of $0.62 and a 12-month high of $10.50.

Insider Buying and Selling at Beeline

In other Beeline news, CFO Christopher R. Moe purchased 20,000 shares of Beeline stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average price of $1.68 per share, for a total transaction of $33,600.00. Following the completion of the transaction, the chief financial officer owned 40,000 shares of the company’s stock, valued at approximately $67,200. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joseph David Freedman acquired 10,000 shares of the stock in a transaction on Thursday, September 25th. The shares were acquired at an average price of $4.22 per share, with a total value of $42,200.00. Following the transaction, the director directly owned 165,920 shares of the company’s stock, valued at $700,182.40. The trade was a 6.41% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 31,000 shares of company stock worth $77,650 in the last 90 days. 33.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLNE. EMG Holdings L.P. bought a new stake in shares of Beeline in the 1st quarter valued at approximately $360,000. Worth Venture Partners LLC bought a new position in shares of Beeline during the 2nd quarter valued at approximately $71,000. NewEdge Advisors LLC raised its holdings in Beeline by 2,932.2% during the 3rd quarter. NewEdge Advisors LLC now owns 1,121,900 shares of the company’s stock valued at $4,443,000 after buying an additional 1,084,900 shares during the period. Vanguard Group Inc. bought a new stake in Beeline in the third quarter worth $1,330,000. Finally, Scientech Research LLC purchased a new position in Beeline during the third quarter worth $89,000. Hedge funds and other institutional investors own 0.58% of the company’s stock.

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