Short Interest in Edible Garden AG Incorporated (NASDAQ:EDBL) Declines By 25.7%

Edible Garden AG Incorporated (NASDAQ:EDBL) saw a significant drop in short interest in March. As of March 31st, there was short interest totaling 53,966 shares, a drop of 25.7% from the March 15th total of 72,666 shares. Approximately 9.1% of the company’s shares are short sold. Based on an average trading volume of 885,161 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analyst Weigh In

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

Edible Garden Price Performance

Shares of Edible Garden stock traded down $0.01 during trading on Friday, hitting $0.94. The stock had a trading volume of 385,872 shares, compared to its average volume of 341,753. Edible Garden has a 12 month low of $0.88 and a 12 month high of $62.90. The firm’s fifty day simple moving average is $2.23 and its 200-day simple moving average is $8.61. The stock has a market cap of $853,307.00, a PE ratio of -0.01 and a beta of 2.40.

Edible Garden (NASDAQ:EDBL) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($24.81) EPS for the quarter, missing the consensus estimate of ($5.60) by ($19.21). The firm had revenue of $4.13 million for the quarter, compared to the consensus estimate of $5.42 million. Edible Garden had a negative net margin of 135.30% and a negative return on equity of 1,078.80%.

Institutional Investors Weigh In On Edible Garden

A hedge fund recently bought a new stake in Edible Garden stock. Armistice Capital LLC acquired a new stake in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned 37.64% of Edible Garden as of its most recent SEC filing. 12.99% of the stock is currently owned by institutional investors.

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.