Beeline Holdings, Inc. (NASDAQ:BLNE) Short Interest Update

Beeline Holdings, Inc. (NASDAQ:BLNE) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 781,709 shares, an increase of 23.9% from the December 31st total of 630,675 shares. Based on an average trading volume of 939,957 shares, the short-interest ratio is presently 0.8 days. Currently, 4.2% of the company’s shares are short sold. Currently, 4.2% of the company’s shares are short sold. Based on an average trading volume of 939,957 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

BLNE has been the topic of several analyst reports. LADENBURG THALM/SH SH raised Beeline to a “strong-buy” rating in a research report on Thursday, December 18th. Wall Street Zen upgraded shares of Beeline from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Beeline in a report on Monday, December 29th. 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 MarketBeat.com, the company has an average rating of “Moderate Buy”.

Beeline Stock Up 7.3%

Shares of Beeline stock opened at $3.25 on Tuesday. The stock’s fifty day moving average is $2.30 and its two-hundred day moving average is $2.44. Beeline has a 52 week low of $0.62 and a 52 week high of $8.40. The company has a market capitalization of $90.20 million, a PE ratio of -0.48 and a beta of 1.62.

Insider Buying and Selling

In related news, CFO Christopher R. Moe acquired 20,000 shares of Beeline stock in a transaction on Wednesday, November 19th. The shares were bought at an average cost of $1.68 per share, with a total value of $33,600.00. Following the completion of the purchase, the chief financial officer directly owned 40,000 shares of the company’s stock, valued at $67,200. The trade was a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 33.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BLNE. Corsair Capital Management L.P. bought a new stake in Beeline during the 2nd quarter valued at about $30,000. Centiva Capital LP purchased a new stake in Beeline in the third quarter worth about $46,000. Creative Planning bought a new position in Beeline during the 2nd quarter worth about $51,000. Relyea Zuckerberg Hanson LLC bought a new position in Beeline during the 3rd quarter worth about $55,000. Finally, NewEdge Advisors LLC purchased a new position in Beeline during the 2nd quarter valued at about $55,000. Hedge funds and other institutional investors 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. It also offers gin and ready-to-drink products; and canning and bottling services to the craft beer and cider industries.