Short Interest in Edible Garden AG Incorporated (NASDAQ:EDBL) Grows By 265.5%

Edible Garden AG Incorporated (NASDAQ:EDBL) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 84,740 shares, a growth of 265.5% from the April 15th total of 23,185 shares. Currently, 9.3% of the shares of the company are short sold. Based on an average daily trading volume, of 6,746,755 shares, the days-to-cover ratio is presently 0.0 days.

Hedge Funds Weigh In On Edible Garden

A hedge fund recently bought a new stake in Edible Garden stock. Armistice Capital LLC bought a new stake in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned approximately 37.64% of Edible Garden as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 12.99% of the company’s stock.

Analysts Set New Price Targets

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

Edible Garden Trading Up 6.6%

NASDAQ EDBL opened at $0.37 on Thursday. The stock’s 50 day moving average is $1.27 and its 200 day moving average is $6.24. Edible Garden has a 12 month low of $0.30 and a 12 month high of $62.90. The stock has a market cap of $341,159.00, a PE ratio of 0.00 and a beta of 1.84.

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

About Edible Garden

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.