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

Shares of Eastside Distilling, Inc. (NASDAQ:EAST) crossed below its 50 day moving average during trading on Friday . The stock has a 50 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 Price Performance

The stock’s 50-day simple moving average is $0.67 and its 200-day simple moving average is $0.88.

Eastside Distilling (NASDAQ:EAST) last issued its quarterly earnings data 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). Eastside Distilling had a negative return on equity of 2,066.36% and a negative net margin of 66.06%. The firm had revenue of $3.06 million during the quarter, compared to the consensus estimate of $2.58 million. During the same period in the previous year, the company posted ($1.96) earnings per share. On average, equities analysts predict that Eastside Distilling, Inc. will post -2.63 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Michael Bigger sold 1,054,091 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 19.11% of the company’s stock.

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.