Eastside Distilling (NASDAQ:EAST) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Eastside Distilling, Inc. (NASDAQ:EAST) 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 changing hands.

Eastside Distilling Trading Down 4.4 %

The firm’s fifty day moving average price is $0.67 and its two-hundred day moving average price is $0.88.

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

Insider Buying and Selling

In related news, major shareholder Michael Bigger sold 1,054,091 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $2.09, for a total value of $2,203,050.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. 19.11% of the stock is currently owned by company insiders.

About Eastside Distilling

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.