Edible Garden AG Incorporated (NASDAQ:EDBL) Short Interest Down 46.9% in February

Edible Garden AG Incorporated (NASDAQ:EDBL) saw a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 34,951 shares, a decline of 46.9% from the February 12th total of 65,798 shares. Based on an average daily volume of 93,031 shares, the days-to-cover ratio is presently 0.4 days. Approximately 5.9% of the shares of the company are short sold. Approximately 5.9% of the shares of the company are short sold. Based on an average daily volume of 93,031 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analyst Weigh In

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

Edible Garden Stock Performance

Shares of EDBL stock traded down $0.05 during trading hours on Thursday, hitting $2.33. 936,663 shares of the company’s stock were exchanged, compared to its average volume of 117,956. The company has a current ratio of 0.80, a quick ratio of 0.51 and a debt-to-equity ratio of 0.24. Edible Garden has a 12-month low of $2.19 and a 12-month high of $62.90. The business’s 50 day simple moving average is $4.57 and its 200-day simple moving average is $11.53.

Hedge Funds Weigh In On Edible Garden

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

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.