PORTLAND, Ore., November 19, 2019 – Shares of Eastside Distilling Inc. (NASDAQ: EAST) declined -1.96% to $3.50. The stock grabbed the investor’s attention and traded 60.970K shares as compared to its average daily volume of 33.32K shares. The stock’s institutional ownership stands at 47.30%.
Eastside Distilling, Inc. (EAST) reported Gross sales of $4.30M, an increase of 154% compared to $1.70M in Q2 2018. Branded and retail sales increased 39% to $1.50M, compared to $1.10M in the year ago period. Branded product shipments increased 57% to 11,697 cases compared to 7,445 in Q2 2018. Co-Packing service sales increased 389% to $2.70M compared to $0.60M in the year ago period. Including Co-packing sales, the Company shipped 356,280 cases during the quarter.
Net loss was $2.90M compared to a net loss of $2.90M in Q1 2019 and $1.90M in Q2 2018. Adjusted EBITDA during Q2 2019 was $1.80M, which compared to $2.10M in Q1 2019 and $1.20M in Q2 2018.
EAST has a market value of $33.81M while its EPS was booked as $-1.47 in the last 12 months. The stock has 9.66M shares outstanding. In the profitability analysis, the company has gross profit margin of 33.60%. Beta value of the company was 0.04; beta is used to measure riskiness of the security.