Home  »  Finance   »  Eastside Distilling Inc. (NASDAQ: EAST): A Blank C...

Eastside Distilling Inc. (NASDAQ: EAST): A Blank Check?

Eastside Distilling Inc. (NASDAQ:EAST) shares, rose in value on Friday, 08/05/22, with the stock price up by 10.80% to the previous day’s close as strong demand from buyers drove the stock to $0.72.

Actively observing the price movement in the last trading, the stock closed the session at $0.65, falling within a range of $0.62 and $0.89. The value of beta (5-year monthly) was 1.66. Referring to stock’s 52-week performance, its high was $4.03, and the low was $0.58. On the whole, EAST has fluctuated by 14.29% over the past month.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free.

Sponsored

With the market capitalization of Eastside Distilling Inc. currently standing at about $10.99 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 29, 2022 – Apr 04, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.17, which is expected to increase to -$0.17 for fiscal year -$0.66 and then to about -$0.55 by fiscal year 2023.

Analysts have estimated the company’s revenue for the quarter at $3.32 million, with a low estimate of $3.32 million and a high estimate of $3.32 million. According to the average forecast, sales growth in current quarter could jump down -1.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $15.13 million, representing an increase of 17.40% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that EAST’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

1 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 0 analyst(s), 1 recommend it as a Buy and 0 called the EAST stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of EAST currently trading nearly 10.02% and 8.25% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.49, while the 7-day volatility ratio is showing 15.26% which for the 30-day chart, stands at 9.60%. Furthermore, Eastside Distilling Inc. (EAST)’s beta value is 1.61, and its average true range (ATR) is 0.07. The company’s stock has been forecasted to trade at an average price of $2.85 over the course of the next 52 weeks, with a low of $2.85 and a high of $2.85. Based on these price targets, the low is -295.83% off current price, whereas the price has to move -295.83% to reach the yearly target high. Additionally, analysts’ median price of $2.85 is likely to be welcomed by investors because it represents a decrease of -295.83% from the current levels.

A comparison of Eastside Distilling Inc. (EAST) with its peers suggests the former has fared considerably weaker in the market. EAST showed an intraday change of 10.80% in last session, and over the past year, it shrunk by -81.77%%. Additionally, there is a gain of 2.22% for Stagwell Inc. (STGW) in last trading while the stock has seen an overall depriciation of 11.79%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.16%. Meanwhile, the Dow Jones Industrial Improved by 0.23%.

Data on historical trading for Eastside Distilling Inc. (NASDAQ:EAST) indicates that the trading volumes over the past 10 days have averaged 45150.0 and over the past 3 months, they’ve averaged 52.09K. According to company’s latest data on outstanding shares, there are 14.90 million shares outstanding.

Nearly 5.00% of Eastside Distilling Inc.’s shares belong to company insiders and institutional investors own 15.40% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.12 million shares as on Jul 14, 2022, resulting in a short ratio of 2.21. According to the data, the short interest in Eastside Distilling Inc. (EAST) stood at 0.78% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 76750.0. The stock has fallen by -59.78% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the EAST stock heading into the next quarter.

Leave a Comment

Your email address will not be published.

[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]