Edible Garden (NASDAQ:EDBL) Major Shareholder Financial Lp Hrt Sells 537,670 Shares

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Financial Lp Hrt sold 537,670 shares of Edible Garden stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $0.10, for a total transaction of $53,767.00. Following the completion of the transaction, the insider directly owned 322,311 shares in the company, valued at approximately $32,231.10. This represents a 62.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions 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 stock was purchased at an average price of $0.13 per share, for a total transaction of $13,101.14.
• On Wednesday, July 1st, Financial Lp Hrt bought 266,482 shares of Edible Garden stock. The stock was purchased at an average price of $0.17 per share, for a total transaction of $45,301.94.

Edible Garden Price Performance

Shares of EDBL opened at $0.12 on Friday. The company has a market capitalization of $634,520.00, a PE ratio of -0.00 and a beta of 1.70. 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 moving average price is $0.25 and its 200 day moving average price is $2.44.

Edible Garden (NASDAQ:EDBL) last released its quarterly earnings results on Friday, May 15th. The company reported ($5.25) earnings per share (EPS) for the quarter. The business had revenue of $3.34 million for the quarter.

Hedge Funds Weigh In On Edible Garden

An institutional investor recently bought a new stake in Edible Garden stock. Armistice Capital LLC acquired a new position in Edible Garden AG Incorporated (NASDAQ:EDBL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 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 and hedge funds own 12.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on EDBL. Weiss Ratings upgraded Edible Garden from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, June 26th. Maxim Group reduced their price target on shares of Edible Garden to $1.00 and set a “buy” rating for the company in a report on Monday, June 15th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Edible Garden currently 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.