Insider Buying: Beeline (NASDAQ:BLNE) Director Buys $42,200.00 in Stock

Beeline Holdings, Inc. (NASDAQ:BLNE) Director Joseph David Freedman acquired 10,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was purchased at an average price of $4.22 per share, for a total transaction of $42,200.00. Following the completion of the transaction, the director owned 165,920 shares in the company, valued at $700,182.40. The trade was a 6.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Beeline Price Performance

NASDAQ:BLNE opened at $3.90 on Friday. The firm’s fifty day moving average price is $2.47 and its 200 day moving average price is $1.75. Beeline Holdings, Inc. has a 1-year low of $0.62 and a 1-year high of $10.50. The firm has a market cap of $76.60 million, a price-to-earnings ratio of -0.11 and a beta of 1.53.

Beeline (NASDAQ:BLNE) last issued its earnings results on Thursday, August 14th. The company reported ($0.41) EPS for the quarter. The company had revenue of $1.72 million for the quarter. Beeline had a negative return on equity of 41.66% and a negative net margin of 288.26%.

Institutional Investors Weigh In On Beeline

Several institutional investors have recently made changes to their positions in BLNE. Corsair Capital Management L.P. purchased a new stake in shares of Beeline in the 2nd quarter worth about $30,000. Creative Planning purchased a new stake in shares of Beeline in the 2nd quarter worth about $51,000. NewEdge Advisors LLC purchased a new stake in shares of Beeline in the 2nd quarter worth about $55,000. Worth Venture Partners LLC purchased a new stake in shares of Beeline in the 2nd quarter worth about $71,000. Finally, EMG Holdings L.P. purchased a new stake in shares of Beeline in the 1st quarter worth about $360,000. 0.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, LADENBURG THALM/SH SH upgraded shares of Beeline to a “strong-buy” rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has an average rating of “Strong Buy”.

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.