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

Beeline Holdings, Inc. (NASDAQ:BLNE) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 781,709 shares, a growth of 23.9% from the December 31st total of 630,675 shares. Based on an average trading volume of 939,957 shares, the short-interest ratio is presently 0.8 days. Approximately 4.2% of the shares of the stock are sold short. Approximately 4.2% of the shares of the stock are sold short. Based on an average trading volume of 939,957 shares, the short-interest ratio is presently 0.8 days.

Insider Buying and Selling at Beeline

In related news, CFO Christopher R. Moe bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average cost of $1.68 per share, for a total transaction of $33,600.00. Following the acquisition, the chief financial officer directly owned 40,000 shares of the company’s stock, valued at $67,200. The trade was a 100.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 33.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Beeline

Hedge funds and other institutional investors have recently made changes to their positions in the company. Centiva Capital LP acquired a new position in Beeline during the third quarter valued at approximately $46,000. Relyea Zuckerberg Hanson LLC bought a new stake in shares of Beeline during the 3rd quarter worth $55,000. GRIMES & Co WEALTH MANAGEMENT LLC bought a new stake in shares of Beeline during the 4th quarter worth $32,000. Waddell & Associates LLC grew its stake in Beeline by 100.0% in the 3rd quarter. Waddell & Associates LLC now owns 20,000 shares of the company’s stock valued at $79,000 after buying an additional 10,000 shares during the last quarter. Finally, Corsair Capital Management L.P. bought a new position in Beeline in the 2nd quarter worth $30,000. 0.58% of the stock is owned by hedge funds and other institutional investors.

Beeline Stock Up 7.4%

Beeline stock opened at $3.49 on Wednesday. Beeline has a 12 month low of $0.62 and a 12 month high of $8.40. The stock has a market cap of $96.85 million, a P/E ratio of -0.52 and a beta of 1.66. The company’s fifty day simple moving average is $2.33 and its 200-day simple moving average is $2.46.

Analysts Set New Price Targets

BLNE has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Beeline in a report on Monday, December 29th. Wall Street Zen raised Beeline from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, LADENBURG THALM/SH SH upgraded Beeline to a “strong-buy” rating in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average 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. It also offers gin and ready-to-drink products; and canning and bottling services to the craft beer and cider industries.