Edible Garden (NASDAQ:EDBL) Issues Earnings Results

Edible Garden (NASDAQ:EDBL) announced its quarterly earnings data on Friday. The company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.87), Zacks reports. The firm had revenue of $2.82 million for the quarter, compared to analysts’ expectations of $3.88 million. Edible Garden had a negative net margin of 101.53% and a negative return on equity of 460.61%.

Edible Garden Stock Down 2.2%

NASDAQ EDBL traded down $0.03 during mid-day trading on Friday, reaching $1.31. The stock had a trading volume of 53,807 shares, compared to its average volume of 111,390. The stock has a market cap of $3.83 million, a PE ratio of -0.04 and a beta of 2.08. Edible Garden has a 1 year low of $1.30 and a 1 year high of $13.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.14. The company has a fifty day moving average price of $1.76 and a 200 day moving average price of $2.27.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Edible Garden in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Edible Garden from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Edible Garden has a consensus rating of “Sell”.

About Edible Garden

Edible Garden AG Incorporated, together with its subsidiaries, operate as a controlled environment agriculture farming company. It offers various packaged products, including cilantro, rosemary, mint, thyme, oregano, bay leaves, chives, poultry mix, sage, dill, buttercrunch living lettuce, basil, living butterhead lettuce, basil, parsley, arugula spring mix, baby arugula blend, baby romaine, and crisp ranch and Caesar salad kits.