Beeline (NASDAQ:BLNE) Stock Rating Upgraded by Wall Street Zen

Beeline (NASDAQ:BLNE) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beeline in a research note on Monday, December 29th. LADENBURG THALM/SH SH raised shares of Beeline to a “strong-buy” rating in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Beeline Price Performance

Shares of Beeline stock opened at $2.05 on Friday. Beeline has a one year low of $0.62 and a one year high of $10.50. The business’s 50 day simple moving average is $1.92 and its two-hundred day simple moving average is $2.24. The stock has a market capitalization of $56.89 million, a P/E ratio of -0.30 and a beta of 1.62.

Insider Buying and Selling at Beeline

In other news, CFO Christopher R. Moe bought 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was purchased at an average price of $1.68 per share, with a total value of $33,600.00. Following the transaction, the chief financial officer owned 40,000 shares of the company’s stock, valued at approximately $67,200. The trade was a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 33.20% of the company’s stock.

Institutional Trading of Beeline

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its holdings in shares of Beeline by 2,932.2% during the third 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 last quarter. Scientech Research LLC purchased a new position in Beeline in the 3rd quarter worth approximately $89,000. Centiva Capital LP bought a new position in Beeline in the 3rd quarter valued at approximately $46,000. Waddell & Associates LLC boosted its stake in Beeline by 100.0% during the 3rd quarter. Waddell & Associates LLC now owns 20,000 shares of the company’s stock valued at $79,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Vanguard Group Inc. purchased a new stake in Beeline during the 3rd quarter valued at $1,330,000. 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.