Edible Garden (NASDAQ:EDBL) Major Shareholder Scott Wolinsky Buys 150,000 Shares

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Scott Wolinsky purchased 150,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were acquired at an average price of $0.19 per share, for a total transaction of $28,500.00. Following the purchase, the insider owned 950,000 shares in the company, valued at $180,500. The trade was a 18.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Scott Wolinsky also recently made the following trade(s):

• On Wednesday, May 27th, Scott Wolinsky purchased 150,000 shares of Edible Garden stock. The shares were acquired at an average price of $0.27 per share, for a total transaction of $40,500.00.

Edible Garden Stock Down 2.8%

Shares of EDBL opened at $0.21 on Friday. The company’s fifty day moving average is $0.60 and its 200-day moving average is $4.52. Edible Garden AG Incorporated has a 12 month low of $0.18 and a 12 month high of $32.10. The firm has a market cap of $1.14 million, a price-to-earnings ratio of 0.00 and a beta of 1.69.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Edible Garden stock. Cetera Investment Advisers boosted its position in Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period. 12.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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