Beeline Holdings, Inc. (NASDAQ:BLNE) Short Interest Up 51.5% in January

Beeline Holdings, Inc. (NASDAQ:BLNE) saw a significant increase in short interest in January. As of January 30th, there was short interest totaling 1,184,340 shares, an increase of 51.5% from the January 15th total of 781,709 shares. Currently, 6.4% of the company’s stock are short sold. Based on an average daily volume of 1,640,333 shares, the short-interest ratio is presently 0.7 days. Based on an average daily volume of 1,640,333 shares, the short-interest ratio is presently 0.7 days. Currently, 6.4% of the company’s stock are short sold.

Beeline Price Performance

Shares of BLNE stock opened at $3.03 on Monday. The company has a fifty day moving average price of $2.52 and a two-hundred day moving average price of $2.52. Beeline has a one year low of $0.62 and a one year high of $8.40. The stock has a market cap of $84.08 million, a P/E ratio of -0.45 and a beta of 1.65.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on 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 upgraded shares of Beeline to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Wall Street Zen upgraded shares of Beeline from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. 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.com, Beeline currently has an average rating of “Moderate Buy”.

Insider Buying and Selling at Beeline

In other news, CFO Christopher R. Moe bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired 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 in the company, valued at $67,200. This represents 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 this hyperlink. 33.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Beeline

A number of institutional investors have recently bought and sold shares of BLNE. AWM Investment Company Inc. acquired a new stake in shares of Beeline in the fourth quarter valued at approximately $3,225,000. NewEdge Advisors LLC increased its holdings in shares of Beeline by 2,932.2% during the 3rd quarter. NewEdge Advisors LLC now owns 1,121,900 shares of the company’s stock worth $4,443,000 after acquiring an additional 1,084,900 shares during the last quarter. Vanguard Group Inc. bought a new stake in Beeline in the 3rd quarter valued at $1,330,000. Geode Capital Management LLC lifted its holdings in Beeline by 71.4% during the 4th quarter. Geode Capital Management LLC now owns 254,603 shares of the company’s stock valued at $438,000 after purchasing an additional 106,088 shares during the last quarter. Finally, Perkins Capital Management Inc. acquired a new stake in Beeline during the 4th quarter valued at $421,000. Institutional investors and hedge funds own 0.58% of the company’s stock.

About Beeline

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.