Beeline (NASDAQ:BLNE) Upgraded to “Strong-Buy” at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Beeline (NASDAQ:BLNE) to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on BLNE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beeline in a research report on Monday. Wall Street Zen downgraded shares of Beeline from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Beeline Price Performance

NASDAQ BLNE opened at $2.03 on Thursday. Beeline has a 1-year low of $0.62 and a 1-year high of $10.50. The firm has a market capitalization of $56.33 million, a P/E ratio of -0.30 and a beta of 1.55. The business’s 50-day simple moving average is $2.31 and its 200-day simple moving average is $2.13.

Insider Buying and Selling at Beeline

In other news, Director Joseph David Freedman bought 10,000 shares of the firm’s 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 completion of the purchase, the director owned 165,920 shares of the company’s stock, valued at $700,182.40. This trade represents a 6.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher R. Moe purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were purchased at an average cost of $1.68 per share, for a total transaction of $33,600.00. Following the purchase, the chief financial officer directly owned 40,000 shares in the company, valued at $67,200. This trade represents a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 31,000 shares of company stock valued at $77,650 over the last 90 days. Insiders own 33.20% of the company’s stock.

Institutional Trading of Beeline

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

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.