Beeline's (BLNE) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Beeline's stock has been assigned a "sell (D-)" rating by Weiss Ratings, while another firm, Ladenburg Thalmann, upgraded it to a "strong buy."
• The company reported earnings of ($0.41) EPS for the last quarter, with a negative net margin of 288.26% and revenue of $1.72 million.
• Recent insider trading includes CFO Christopher R. Moe purchasing 20,000 shares at $1.64 per share, reflecting confidence in the company amidst mixed analyst ratings.

Beeline (NASDAQ:BLNE - Get Free Report)'s stock had its "sell (d-)" rating restated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, LADENBURG THALM/SH SH raised shares of Beeline to a "strong-buy" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Beeline presently has an average rating of "Moderate Buy".

Beeline Price Performance

Beeline stock remained flat at $3.40 during mid-day trading on Wednesday. 690,746 shares of the company traded hands, compared to its average volume of 1,764,693. Beeline has a one year low of $0.62 and a one year high of $10.50. The company has a 50 day moving average of $2.57 and a 200 day moving average of $1.77. The stock has a market cap of $66.78 million, a price-to-earnings ratio of -0.09 and a beta of 1.53.

Beeline (NASDAQ:BLNE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.41) earnings per share (EPS) for the quarter. Beeline had a negative net margin of 288.26% and a negative return on equity of 41.66%. The company had revenue of $1.72 million for the quarter.

Insider Buying and Selling

In other news, CFO Christopher R. Moe bought 20,000 shares of Beeline stock in a transaction dated Wednesday, September 3rd. The shares were acquired at an average price of $1.64 per share, with a total value of $32,800.00. Following the completion of the purchase, the chief financial officer owned 20,000 shares in the company, valued at $32,800. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph David Freedman purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The shares were purchased at an average cost of $4.22 per share, with a total value of $42,200.00. Following the completion of the purchase, the director owned 165,920 shares in the company, valued at $700,182.40. This trade represents a 6.41% increase in their position. The disclosure for this purchase can be found here. 33.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Corsair Capital Management L.P. bought a new stake in shares of Beeline during the 2nd quarter worth approximately $30,000. Creative Planning purchased a new stake in shares of Beeline during the second quarter valued at $51,000. NewEdge Advisors LLC bought a new position in shares of Beeline in the second quarter worth about $55,000. Worth Venture Partners LLC purchased a new position in Beeline in the 2nd quarter worth about $71,000. Finally, EMG Holdings L.P. purchased a new stake in Beeline in the 1st quarter valued at about $360,000. Hedge funds and other institutional investors 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.

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