Edible Garden Stock Scheduled to Reverse Split on Tuesday, February 3rd (NASDAQ:EDBL)

Edible Garden AG Incorporated (NASDAQ:EDBL)’s stock is scheduled to reverse split before the market opens on Tuesday, February 3rd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, February 2nd.

Edible Garden Stock Down 5.0%

NASDAQ EDBL traded down $0.03 during mid-day trading on Friday, reaching $0.48. 736,975 shares of the company’s stock traded hands, compared to its average volume of 2,981,022. The company has a market cap of $2.49 million, a price-to-earnings ratio of -0.02 and a beta of 2.13. The company has a fifty day simple moving average of $0.90 and a 200-day simple moving average of $1.57. The company has a current ratio of 0.80, a quick ratio of 0.51 and a debt-to-equity ratio of 0.24. Edible Garden has a 1-year low of $0.46 and a 1-year high of $7.75.

Edible Garden (NASDAQ:EDBL) last issued its earnings results on Friday, November 14th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.87). The company had revenue of $2.82 million during the quarter, compared to analyst estimates of $3.88 million. Edible Garden had a negative net margin of 115.44% and a negative return on equity of 1,078.80%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edible Garden in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus 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.