Financial Lp Hrt Buys 100,778 Shares of Edible Garden (NASDAQ:EDBL) Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Financial Lp Hrt bought 100,778 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were purchased at an average price of $0.13 per share, for a total transaction of $13,101.14. Following the purchase, the insider owned 810,429 shares in the company, valued at $105,355.77. This represents a 14.20% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Monday, July 6th, Financial Lp Hrt purchased 49,552 shares of Edible Garden stock. The stock was acquired at an average price of $0.12 per share, with a total value of $5,946.24.
• On Wednesday, July 1st, Financial Lp Hrt purchased 266,482 shares of Edible Garden stock. The shares were acquired at an average cost of $0.17 per share, for a total transaction of $45,301.94.

Edible Garden Stock Up 32.3%

Shares of Edible Garden stock opened at $0.12 on Thursday. The stock’s 50-day simple moving average is $0.26 and its 200-day simple moving average is $2.51. Edible Garden AG Incorporated has a 52 week low of $0.08 and a 52 week high of $27.80. The company has a market capitalization of $634,520.00, a price-to-earnings ratio of -0.00 and a beta of 1.70.

Edible Garden (NASDAQ:EDBL) last released its earnings results on Friday, May 15th. The company reported ($5.25) earnings per share (EPS) for the quarter. The company had revenue of $3.34 million during the quarter.

Institutional Investors Weigh In On Edible Garden

An institutional investor recently raised its stake in Edible Garden stock. Cetera Investment Advisers raised its position in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,150 shares of the company’s stock after buying an additional 86,150 shares during the quarter. Cetera Investment Advisers owned about 16.19% of Edible Garden worth $58,000 as of its most recent SEC filing. 12.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on EDBL shares. Weiss Ratings upgraded shares of Edible Garden from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, June 26th. Maxim Group dropped their target price on shares of Edible Garden to $1.00 and set a “buy” rating for the company in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Edible Garden presently has a consensus rating of “Hold” and a consensus target price of $1.00.

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.