Eastside Distilling (NASDAQ:EAST) Shares Cross Below 50-Day Moving Average – Time to Sell?

Eastside Distilling, Inc. (NASDAQ:EAST) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $0.67 and traded as low as $0.55. Eastside Distilling shares last traded at $0.58, with a volume of 5,464 shares traded.

Eastside Distilling Stock Down 4.4 %

The business’s 50-day moving average is $0.67 and its two-hundred day moving average is $0.88. The stock has a market capitalization of $1.08 million, a price-to-earnings ratio of -0.12 and a beta of 1.77.

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

Insider Buying and Selling at Eastside Distilling

In other news, major shareholder Michael Bigger sold 1,054,091 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $2.09, for a total transaction of $2,203,050.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.11% of the stock is currently owned by company insiders.

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.