Heritage Distilling (NASDAQ:IPST) Research Coverage Started at Roth Mkm

Roth Mkm initiated coverage on shares of Heritage Distilling (NASDAQ:IPST) in a report issued on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $8.20 target price on the stock.

IPST has been the subject of several other research reports. Wall Street Zen raised shares of Heritage Distilling from a “strong sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Heritage Distilling in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.20.

Heritage Distilling Stock Performance

Shares of Heritage Distilling stock opened at $1.47 on Friday. The stock has a 50 day moving average of $4.10 and a 200 day moving average of $8.90. The firm has a market capitalization of $14.05 million, a price-to-earnings ratio of -0.07 and a beta of 6.04. Heritage Distilling has a fifty-two week low of $1.12 and a fifty-two week high of $28.40.

Heritage Distilling (NASDAQ:IPST) last announced its quarterly earnings results on Tuesday, November 18th. The company reported $0.05 EPS for the quarter. The business had revenue of $2.99 million for the quarter. Heritage Distilling had a negative return on equity of 13.65% and a net margin of 2,132.99%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Polar Asset Management Partners Inc. acquired a new stake in Heritage Distilling during the 3rd quarter worth approximately $2,717,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Heritage Distilling during the third quarter worth $353,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Heritage Distilling in the third quarter valued at $361,000. Finally, Virtu Financial LLC purchased a new position in Heritage Distilling in the third quarter valued at $36,000.

Heritage Distilling Company Profile

Heritage Distilling Company (NASDAQ: CASK) is a craft distiller and distributor of premium spirits based in Washington state. The company specializes in the small-batch production of a diverse portfolio that includes bourbon, rye whiskey, gin, vodka, rum and specialty liqueurs. Heritage combines traditional distillation techniques with locally sourced grains and pure water, aiming to deliver distinctive flavor profiles that appeal to connoisseurs and casual drinkers alike.

Founded in 2010 in Gig Harbor, Washington, Heritage Distilling has expanded its operations to include multiple distillery facilities and tasting rooms, offering guided tours, tasting experiences and educational events.