Stock News in Focus: Eastside Distilling, Inc. (NASDAQ: EAST)

Eastside Distilling, Inc. (NASDAQ: EAST) stock identified change of 59.34% away from 52-week low price and recently located move of -39.47% off 52-week high price. It has market worth of $47.61M . EAST stock has been recorded 20.86% away from 50 day moving average and -3.64% away from 200 day moving average. Moving closer, we can see that shares have been trading 18.58% off 20-day moving average.

Eastside Distilling, Inc. (NASDAQ: EAST) announced the appointment of Shawn P. Willard and Geoffrey C. Gwin as independent directors to the Company’s board of directors, effective immediately. 

Willard has nearly 30 years of experience in various money management, research and corporate finance positions and is currently the founder and Managing Member of Orca Investment Management LLC.  Orca currently owns approximately 7.0% of Eastside Distilling’s common stock.

Gwin has over two decades of experience with various money management firms and is currently a Member of Quad Capital Management Advisors, LLC and the Managing Member of Group G Capital Partners, LLC.  Collectively, Quad and Group G own approximately 7.2% of Eastside Distilling’s common stock.

Paul Shoen, Chairman of Eastside Distilling, commented, “After many conversations with shareholders and other key stakeholders, I am pleased to announce the appointment of Shawn and Geoff to the Eastside board of directors. Both are significant Eastside institutional shareholders who have loyally supported the Company’s growth over the last several years. They are experienced at advising emerging growth companies such as Eastside and I expect will bring a wealth of expertise toward helping to further build Eastside into one of the leaders in our industry. I am excited that they will be playing bigger roles as board members and look forward to their contributions to the Company.” 

Shawn Willard commented, “I believe the Company is well positioned for the future and I look forward to contributing to its success.”

Geoffrey Gwin commented, “Eastside is one of the most exciting young companies I have seen in years. Its team has done a tremendous job building a platform that I believe can create value for shareholders going forward.”

Shawn Willard and Geoffrey Gwin join Jack Peterson, Paul Shoen, and Owen Lingley on the Eastside board of directors.

 The Consumer Goods sector company, Eastside Distilling noticed change of 0.28% to $5.29 along volume of 26537 shares in recent session compared to an average volume of 46.45K. The stock observed return of 4.75% in 5 days trading activity. The stock was at 28.71% over one month performance. EAST’s shares are at 10.67% for the quarter and driving a -29.93% return over the course of the past year and is now at -14.40% since this point in 2018. 

 The average volatility for the week at 5.82% and for month was at 9.42%. There are 9M shares outstanding and 7.91M shares are floated in market. Right now the stock beta is 0.19. 

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