A Reversal for Eastside Distilling, Inc. (EAST) Is Not Near. The Stock Reaches 52-Week High Today

June 21, 2018 - By Maria Brooks

Eastside Distilling, Inc. (NASDAQ:EAST) Logo

The stock of Eastside Distilling, Inc. (NASDAQ:EAST) hit a new 52-week high and has $9.69 target or 9.00 % above today’s $8.89 share price. The 9 months bullish chart indicates low risk for the $46.19M company. The 1-year high was reported on Jun, 21 by Barchart.com. If the $9.69 price target is reached, the company will be worth $4.16 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 12.53% or $0.99 during the last trading session, reaching $8.89. About 74,175 shares traded or 393.64% up from the average. Eastside Distilling, Inc. (NASDAQ:EAST) has risen 11.95% since June 21, 2017 and is uptrending. It has underperformed by 0.62% the S&P500.

Analysts await Eastside Distilling, Inc. (NASDAQ:EAST) to report earnings on August, 13. They expect $-0.19 earnings per share, up 52.50 % or $0.21 from last year’s $-0.4 per share. After $-0.27 actual earnings per share reported by Eastside Distilling, Inc. for the previous quarter, Wall Street now forecasts -29.63 % EPS growth.

More notable recent Eastside Distilling, Inc. (NASDAQ:EAST) news were published by: Nasdaq.com which released: “Reginal Bank ETFs & Stocks to Party on Dodd-Frank Easing” on May 23, 2018, also Businesswire.com with their article: “Eastside Distilling Announces Its First American Single Malt Whiskey” published on June 05, 2018, Businesswire.com published: “Iowa, Minnesota and Wisconsin Join the List of States Where Eastside’s Redneck Riviera Whiskey Is Distributed” on June 07, 2018. More interesting news about Eastside Distilling, Inc. (NASDAQ:EAST) were released by: Businesswire.com and their article: “Redneck Riviera Whiskey Now Distributed in Washington State by Southern Glazer Wine and Spirits” published on June 01, 2018 as well as Businesswire.com‘s news article titled: “Eastside Award-Winning Burnside Oregon Oaked Rye Launched on West Coast” with publication date: May 31, 2018.

Eastside Distilling, Inc. develops, makes, produces, and markets hand-crafted spirits in the United States. The company has market cap of $46.19 million. The firm offers bourbon under the Burnside Bourbon and Oregon Oak Burnside Bourbon brand names; premium whiskey under the Barrel Hitch American Whiskey and Barrel Hitch Oregon Oaked Whiskey brand names; distinctive whiskey under the Cherry Bomb Whiskey and Marionberry Whiskey brand names; rum under the Below Deck Silver Rum, Below Deck Spiced Rum, Below Deck Coffee Rum, and Below Deck Ginger Rum brand names; and vodka under the Portland Potato Vodka brand name. It currently has negative earnings. It also provides various handmade products, including Advocaat Liqueur, Peppermint Bark Liqueur, Bier Schnapps, and Holiday Spiced Liqueur.

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