Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) Stock Short Interest Declines 79.8%

Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 10,247 shares, a drop of 79.8% from the August 31st total of 50,826 shares. Based on an average daily volume of 51,184 shares, the short-interest ratio is presently 0.2 days. Currently, 1.5% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heritage Distilling in a research note on Wednesday, July 15th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Heritage Distilling presently has an average rating of “Hold” and an average price target of $164.00.

Hedge Funds Weigh In On Heritage Distilling

A hedge fund recently bought a new position in Heritage Distilling stock. Arrington Capital Management LLC purchased a new stake in Heritage Distilling Holding Company, Inc. (NASDAQ:IPST) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 413,701 shares of the company’s stock, valued at approximately $645,000. Heritage Distilling accounts for 0.6% of Arrington Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Arrington Capital Management LLC owned about 4.33% of Heritage Distilling at the end of the most recent quarter.

Heritage Distilling Stock Up 21.6%

NASDAQ:IPST traded up $0.66 during mid-day trading on Friday, reaching $3.71. The company’s stock had a trading volume of 4,300,899 shares, compared to its average volume of 85,991. The company has a quick ratio of 0.26, a current ratio of 0.43 and a debt-to-equity ratio of 0.01. Heritage Distilling has a 1 year low of $1.54 and a 1 year high of $356.00. The stock has a fifty day moving average of $3.92 and a 200-day moving average of $4.94. The firm has a market capitalization of $2.67 million, a PE ratio of -0.01 and a beta of 5.41.

About Heritage Distilling

Heritage Distilling Company, Inc is a craft spirits producer and retailer based in the Pacific Northwest. The company develops, distills, ages, blends, bottles and sells a range of spirits, including whiskey, bourbon, gin, vodka and rum. Its portfolio includes brands such as Elk Rider Bourbon and BSB (Brown Sugar Bourbon).

The company sells its products through wholesale distributors, retailers and direct-to-consumer channels, including its own tasting rooms and online store. Heritage Distilling also operates destination distilleries that offer tastings, tours, events and other visitor experiences, combining spirits production with hospitality and brand-focused retail.

Heritage Distilling was founded in 2011 by Justin and Sarah Stiefel and has built its operations in the Pacific Northwest, including facilities in Washington state.