Edible Garden AG Incorporated (NASDAQ:EDBL) Short Interest Update

Edible Garden AG Incorporated (NASDAQ:EDBL) was the target of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 291,160 shares, a decline of 85.7% from the May 14th total of 2,040,751 shares. Based on an average daily volume of 3,157,779 shares, the days-to-cover ratio is currently 0.1 days. Currently, 5.4% of the company’s shares are sold short.

Analysts Set New Price Targets

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

Insider Transactions at Edible Garden

In other Edible Garden news, major shareholder Scott Wolinsky bought 150,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $0.19 per share, with a total value of $28,500.00. Following the transaction, the insider owned 950,000 shares in the company, valued at $180,500. This trade represents a 18.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Edible Garden

An institutional investor recently raised its position in Edible Garden stock. Cetera Investment Advisers boosted its holdings in Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,150 shares of the company’s stock after purchasing 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 quarter. 12.99% of the stock is owned by institutional investors and hedge funds.

Edible Garden Price Performance

Shares of NASDAQ:EDBL traded up $0.01 during midday trading on Wednesday, reaching $0.23. The company had a trading volume of 1,222,246 shares, compared to its average volume of 2,878,538. The stock has a market capitalization of $1.27 million, a P/E ratio of 0.00 and a beta of 1.69. The stock’s fifty day moving average price is $0.57 and its 200-day moving average price is $4.30. Edible Garden has a one year low of $0.18 and a one year high of $31.30.

Edible Garden (NASDAQ:EDBL) last issued 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 company had revenue of $3.34 million for the quarter.

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.