Edible Garden AG Incorporated (NASDAQ:EDBL) Shares Shorted: Short Interest Up 84.8% in October

Edible Garden AG Incorporated (NASDAQ:EDBL) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 144,202 shares, an increase of 84.8% from the September 30th total of 78,014 shares. Approximately 10.5% of the shares of the company are sold short. Based on an average daily trading volume, of 191,753 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EDBL shares. Wall Street Zen cut shares of Edible Garden from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings cut shares of Edible Garden from a “sell (e+)” rating to a “sell (e)” rating in a research report on Tuesday, October 20th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.00.

Edible Garden Trading Down 5.2%

Shares of NASDAQ:EDBL traded down $0.04 on Monday, hitting $0.70. 72,743 shares of the company were exchanged, compared to its average volume of 614,220. Edible Garden has a 1-year low of $0.67 and a 1-year high of $765.00. The stock’s 50 day moving average price is $1.19 and its 200 day moving average price is $49.77. The firm has a market capitalization of $961,860.00, a P/E ratio of -0.00 and a beta of 1.77.

Edible Garden (NASDAQ:EDBL) last posted its earnings results on Friday, August 14th. The company reported ($18.79) EPS for the quarter, missing the consensus estimate of ($11.70) by ($7.09). The company had revenue of $3.55 million during the quarter, compared to analysts’ expectations of $3.38 million.

Edible Garden Company Profile

Edible Garden AG Incorporated (NASDAQ: EDBL) is a controlled-environment agriculture company that grows and distributes fresh herbs, leafy greens, microgreens and other produce. Its operations use greenhouse and indoor farming methods designed to provide consistent, locally grown products throughout the year.

The company offers products such as basil, mint, parsley, cilantro, rosemary, sage, lettuce and microgreens. These products are marketed under the Edible Garden brand and related product lines and are sold primarily through grocery retailers and other food distribution channels in the United States.

Edible Garden was established to support more sustainable and efficient food production, with an emphasis on reducing transportation distances, improving freshness and using technology to manage growing conditions.