Insider Buying: Edible Garden (NASDAQ:EDBL) Major Shareholder Buys $45,301.94 in Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Financial Lp Hrt acquired 266,482 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was purchased at an average price of $0.17 per share, with a total value of $45,301.94. Following the completion of the transaction, the insider owned 709,651 shares of the company’s stock, valued at approximately $120,640.67. This trade represents a 60.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Monday, July 6th, Financial Lp Hrt acquired 49,552 shares of Edible Garden stock. The shares were purchased at an average cost of $0.12 per share, with a total value of $5,946.24.
• On Thursday, July 2nd, Financial Lp Hrt bought 100,778 shares of Edible Garden stock. The shares were acquired at an average price of $0.13 per share, for a total transaction of $13,101.14.

Edible Garden Price Performance

Shares of NASDAQ EDBL traded down $0.03 during mid-day trading on Tuesday, hitting $0.09. The company’s stock had a trading volume of 4,813,040 shares, compared to its average volume of 5,521,835. Edible Garden AG Incorporated has a one year low of $0.08 and a one year high of $27.80. The company’s fifty day simple moving average is $0.28 and its 200-day simple moving average is $2.68. The stock has a market cap of $479,631.30, a price-to-earnings ratio of -0.00 and a beta of 1.70.

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 company had revenue of $3.34 million for the quarter.

Institutional Trading of Edible Garden

An institutional investor recently bought a new position in Edible Garden stock. Armistice Capital LLC bought a new stake in Edible Garden AG Incorporated (NASDAQ:EDBL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned 37.64% of Edible Garden at the end of the most recent quarter. Institutional investors own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EDBL shares. Weiss Ratings raised Edible Garden from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, June 26th. Maxim Group lowered their price target on Edible Garden to $1.00 and set a “buy” rating for the company in a research note on Monday, June 15th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $1.00.

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.