Beeline (NASDAQ:BLNE) Issues Earnings Results

Beeline (NASDAQ:BLNE) released its quarterly earnings results on Friday. The company reported ($0.20) earnings per share for the quarter, FiscalAI reports. The business had revenue of $2.36 million for the quarter. Beeline had a negative return on equity of 41.66% and a negative net margin of 288.26%.

Beeline Price Performance

NASDAQ BLNE remained flat at $1.74 on Friday. The company’s stock had a trading volume of 1,163,823 shares, compared to its average volume of 854,726. The company has a fifty day moving average price of $3.11 and a 200-day moving average price of $2.01. Beeline has a 12-month low of $0.62 and a 12-month high of $10.50. The stock has a market capitalization of $40.26 million, a P/E ratio of -0.16 and a beta of 1.61.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Beeline in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Insider Activity at Beeline

In other Beeline news, CFO Christopher R. Moe bought 20,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were bought at an average cost of $1.64 per share, with a total value of $32,800.00. Following the completion of the acquisition, the chief financial officer owned 20,000 shares of the company’s stock, valued at approximately $32,800. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph David Freedman purchased 10,000 shares of Beeline stock in a transaction dated Thursday, September 25th. The stock was acquired 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 approximately $700,182.40. The trade was a 6.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 33.20% of the stock is currently owned by company insiders.

Institutional Trading of Beeline

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