Eastside Distilling (NASDAQ:EAST) Stock Passes Below 50-Day Moving Average – What’s Next?

Shares of Eastside Distilling, Inc. (NASDAQ:EAST) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $0.71 and traded as low as $0.58. Eastside Distilling shares last traded at $0.58, with a volume of 85,053 shares trading hands.

Eastside Distilling Price Performance

The stock has a 50 day simple moving average of $0.71 and a 200-day simple moving average of $0.90. The firm has a market cap of $994,397.60, a PE ratio of -0.09 and a beta of 1.77.

Eastside Distilling (NASDAQ:EAST) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.05). The firm had revenue of $3.06 million during the quarter, compared to the consensus estimate of $2.58 million. Eastside Distilling had a negative return on equity of 2,066.36% and a negative net margin of 66.06%. During the same quarter in the previous year, the firm earned ($1.96) EPS. As a group, equities analysts predict that Eastside Distilling, Inc. will post -2.63 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Michael Bigger sold 1,054,091 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $2.09, for a total value of $2,203,050.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 19.11% of the company’s stock.

Eastside Distilling Company Profile

Eastside Distilling, Inc manufactures, acquires, blends, bottles, imports, exports, markets, and sells various alcoholic beverages. It operates through two segments, Spirits and Craft Canning + Printing. 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.