Eastside Distilling Inc. [NASDAQ: EAST] gained 7.59% on the last trading session, reaching $1.70 price per share at the time. The company report on April 21, 2021 that Eastside Distilling Announces $3.3 Million Private Placement.
Eastside Distilling, Inc. (NASDAQ: EAST) (“Eastside” or the “Company”), a consumer-focused beverage company that builds craft inspired experiential brands and high-quality artisan products around premium spirits and ready-to-drink “RTD” craft cocktails, announced that it has closed a private placement offering with Bigger Capital Fund, LP and District 2 Capital Fund LP.
The Company has entered into a definitive agreement with Bigger Capital Fund, LP and District 2 Capital Fund LP (the “Subscribers”) to offer and sell to the Subscribers up to $3,300,000 in aggregate principal amount of secured convertible promissory notes of the Company (the “Notes”), which Notes are convertible into shares of the Company’s Common Stock, par value $0.0001 per share, pursuant to the terms and conditions set forth in the Notes with an initial conversion price of $2.20, a 39% premium to the last closing price of the Common Stock. Additionally, in connection with the purchase of such Notes, each Subscriber shall receive a warrant, to purchase a number of shares of Common Stock equal to 60% of the principal amount of any Note issued to such Subscriber hereunder divided by the conversion price of the Note issued to such Subscriber, at an exercise price equal to $2.65, pursuant to a Securities Purchase Agreement.
Eastside Distilling Inc. represents 10.27 million in outstanding shares, while the company has a total market value of $19.18 million with the latest information. EAST stock price has been found in the range of $1.58 to $2.10.
If compared to the average trading volume of 392.66K shares, EAST reached a trading volume of 7595401 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Eastside Distilling Inc. [EAST]:
The Average True Range (ATR) for Eastside Distilling Inc. is set at 0.17, with the Price to Sales ratio for EAST stock in the period of the last 12 months amounting to 1.40.
Trading performance analysis for EAST stock
Eastside Distilling Inc. [EAST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.56. With this latest performance, EAST shares dropped by -10.53% in over the last four-week period, additionally plugging by 38.72% over the last 6 months – not to mention a drop of -1.73% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EAST stock in for the last two-week period is set at 46.06, with the RSI for the last a single of trading hit 45.72, and the three-weeks RSI is set at 47.15 for Eastside Distilling Inc. [EAST]. The present Moving Average for the last 50 days of trading for this stock 1.9044, while it was recorded at 1.6620 for the last single week of trading, and 1.4802 for the last 200 days.
Eastside Distilling Inc. [EAST]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Eastside Distilling Inc. [EAST] shares currently have an operating margin of -62.33 and a Gross Margin at +16.45. Eastside Distilling Inc.’s Net Margin is presently recorded at -70.31.
Return on Total Capital for EAST is now -59.53, given the latest momentum, and Return on Invested Capital for the company is -123.06. Return on Equity for this stock declined to -309.93, with Return on Assets sitting at -28.54. Additionally, EAST Total Debt to Total Capital is recorded at 109.12, with Total Debt to Total Assets ending up at 41.79.
Reflecting on the efficiency of the workforce at the company, Eastside Distilling Inc. [EAST] managed to generate an average of -$123,679 per employee. Receivables Turnover for the company is 13.58 with a Total Asset Turnover recorded at a value of 0.41.Eastside Distilling Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.40.
Eastside Distilling Inc. [EAST]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Eastside Distilling Inc. posted -0.36/share EPS, while the average EPS was predicted by analysts to be reported at -0.28/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -28.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EAST.
An analysis of insider ownership at Eastside Distilling Inc. [EAST]
There are presently around $2 million, or 18.00% of EAST stock, in the hands of institutional investors. The top three institutional holders of EAST stocks are: ROYCE & ASSOCIATES LP with ownership of 472,225, which is approximately -35.373% of the company’s market cap and around 1.50% of the total institutional ownership; ARS INVESTMENT PARTNERS, LLC, holding 360,914 shares of the stock with an approximate value of $0.57 million in EAST stocks shares; and VANGUARD GROUP INC, currently with $0.36 million in EAST stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Eastside Distilling Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 5 institutional holders increased their position in Eastside Distilling Inc. [NASDAQ:EAST] by around 66,609 shares. Additionally, 8 investors decreased positions by around 334,096 shares, while 5 investors held positions by with 1,029,920 shares. The mentioned changes placed institutional holdings at 1,430,625 shares, according to the latest SEC report filing. EAST stock had 2 new institutional investments in for a total of 59,048 shares, while 4 institutional investors sold positions of 64,593 shares during the same period.