Edible Garden AG Incorporated (NASDAQ:EDBL) Short Interest Update

Edible Garden AG Incorporated (NASDAQ:EDBL) was the recipient of a large decline in short interest in May. As of May 29th, there was short interest totaling 291,160 shares, a decline of 85.7% from the May 14th total of 2,040,751 shares. Currently, 5.4% of the shares of the stock are short sold. Based on an average trading volume of 3,157,779 shares, the short-interest ratio is presently 0.1 days.

Insiders Place Their Bets

In related news, major shareholder Scott Wolinsky acquired 150,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $0.19 per share, with a total value of $28,500.00. Following the acquisition, the insider directly owned 950,000 shares of the company’s stock, valued at approximately $180,500. The trade was a 18.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is owned by corporate insiders.

Institutional Trading of Edible Garden

A hedge fund recently raised its stake in Edible Garden stock. Cetera Investment Advisers boosted its position in Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,150 shares of the company’s stock after buying an additional 86,150 shares during the quarter. Cetera Investment Advisers owned approximately 16.19% of Edible Garden worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 12.99% of the stock is owned by hedge funds and other institutional investors.

Edible Garden Price Performance

Shares of Edible Garden stock opened at $0.27 on Friday. Edible Garden has a one year low of $0.18 and a one year high of $31.00. The stock’s 50-day moving average is $0.53 and its 200 day moving average is $4.15. The firm has a market cap of $1.47 million, a price-to-earnings ratio of 0.00 and a beta of 1.69.

Edible Garden (NASDAQ:EDBL) last posted its quarterly earnings results on Friday, May 15th. The company reported ($5.25) earnings per share for the quarter. The firm had revenue of $3.34 million for the quarter. Edible Garden had a negative return on equity of 1,078.80% and a negative net margin of 131.59%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Edible Garden in a research note on Monday, April 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Edible Garden currently has an average rating of “Sell”.

Edible Garden Company Profile

Edible Garden AG, trading on the Nasdaq under the ticker EDBL, is a technology-enabled agriculture company specializing in the design, construction and operation of hydroponic greenhouse farms. By leveraging controlled-environment agriculture techniques and proprietary automation systems, the company produces a range of leafy greens and salad?related vegetables, including branded Salanova products, for wholesale distribution to retailers, food service operators and distributors.

In addition to farm ownership and produce cultivation, Edible Garden develops and licenses its modular greenhouse technology and cultivation methods to third parties.