Edible Garden AG Incorporated (NASDAQ:EDBL) Sees Large Increase in Short Interest

Edible Garden AG Incorporated (NASDAQ:EDBL) was the recipient of a significant growth in short interest in 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. Based on an average daily volume of 6,746,755 shares, the days-to-cover ratio is currently 0.0 days. Currently, 9.3% of the shares of the stock are sold short.

Institutional Trading of Edible Garden

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

Edible Garden Trading Down 5.5%

Edible Garden stock traded down $0.02 during midday trading on Friday, hitting $0.39. 68,604,903 shares of the stock were exchanged, compared to its average volume of 2,520,618. The stock has a market capitalization of $354,354.00, a price-to-earnings ratio of 0.00 and a beta of 1.84. The stock’s 50-day simple moving average is $1.23 and its 200 day simple moving average is $6.13. Edible Garden has a fifty-two week low of $0.30 and a fifty-two week high of $62.90.

Edible Garden (NASDAQ:EDBL) last posted its quarterly earnings results on Friday, May 15th. The company reported ($5.25) earnings per share for the quarter. Edible Garden had a negative net margin of 135.30% and a negative return on equity of 1,078.80%. The firm had revenue of $3.34 million during the quarter.

Analysts Set New Price Targets

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