Roth Capital began coverage on shares of Eastside Distilling, Inc. (NASDAQ:ESDI) in a research report issued on Friday, Marketbeat reports. The firm set a “buy” rating and a $7.00 price target on the stock. Roth Capital’s target price indicates a potential upside of 85.19% from the stock’s previous close.

Separately, ValuEngine raised shares of Eastside Distilling from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st.

Eastside Distilling (NASDAQ:ESDI) traded down 6.67% during trading on Friday, hitting $3.78. 29,927 shares of the stock traded hands. The stock has a 50 day moving average price of $4.61 and a 200-day moving average price of $3.27. Eastside Distilling has a 52-week low of $3.35 and a 52-week high of $12.00. The stock’s market cap is $12.63 million.

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In related news, Chairman Grover T. Wickersham purchased 55,555 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average price of $4.49 per share, with a total value of $249,441.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Grover T. Wickersham purchased 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average cost of $3.89 per share, for a total transaction of $27,230.00. Following the purchase, the chairman now directly owns 97,114 shares in the company, valued at approximately $377,773.46. The disclosure for this purchase can be found here. Insiders purchased a total of 131,181 shares of company stock worth $589,124 in the last three months. 63.14% of the stock is owned by corporate insiders.

About Eastside Distilling

Eastside Distilling, Inc (Eastside) is a manufacturer, developer, producer and marketer of master-crafted spirits. The Company’s beverage alcohol categories include bourbon, whiskey, rum and vodka. The Company operates through the marketing and distributing of hand-crafted spirits segment. Its brands include Burnside Bourbon, Burnside Oregon Oaked Bourbon, Barrel Hitch American Whiskey, Barrel Hitch Oregon Oak American Whiskey, Below Deck Silver Rum, Below Deck Ginger Rum, Below Deck Coffee Rum, Below Deck Spiced Rum, Portland Potato Vodka, Marionberry Whiskey and Cherry Bomb Whiskey.

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