Short Interest in Beeline Holdings, Inc. (NASDAQ:BLNE) Declines By 25.5%

Key Points

• Beeline Holdings, Inc. experienced a significant decrease in short interest, dropping by 25.5% to 1,020,000 shares as of September 15th, indicating a potential shift in investor sentiment.
• The company's stock opened at $3.68 with a market capitalization of $72.28 million, and it reported a negative earnings per share of ($0.41) for the last quarter.
• Insider buying activity was noted, with CFO Christopher R. Moe purchasing 20,000 shares at $1.64 each, signaling confidence in the company’s future prospects.

Beeline Holdings, Inc. (NASDAQ:BLNE - Get Free Report) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 1,020,000 shares, a drop of 25.5% from the August 31st total of 1,370,000 shares. Approximately 5.9% of the company's shares are sold short. Based on an average daily trading volume, of 3,460,000 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 3,460,000 shares, the short-interest ratio is currently 0.3 days. Approximately 5.9% of the company's shares are sold short.

Beeline Stock Performance

Shares of NASDAQ:BLNE opened at $3.68 on Tuesday. The company has a 50 day moving average price of $2.54 and a two-hundred day moving average price of $1.76. The company has a market capitalization of $72.28 million, a PE ratio of -0.10 and a beta of 1.53. Beeline has a 52 week low of $0.62 and a 52 week high of $10.50.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BLNE shares. LADENBURG THALM/SH SH raised shares of Beeline to a "strong-buy" rating in a research note on Wednesday, July 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Beeline in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Corsair Capital Management L.P. bought a new stake in shares of Beeline in the second quarter worth about $30,000. Creative Planning acquired a new position in shares of Beeline in the 2nd quarter valued at approximately $51,000. NewEdge Advisors LLC bought a new stake in Beeline during the 2nd quarter worth approximately $55,000. Worth Venture Partners LLC acquired a new stake in Beeline during the 2nd quarter worth approximately $71,000. Finally, EMG Holdings L.P. bought a new position in Beeline in the first quarter valued at approximately $360,000. 0.58% of the stock is owned by institutional investors and hedge funds.

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.

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