Scott Wolinsky Acquires 150,000 Shares of Edible Garden (NASDAQ:EDBL) Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Scott Wolinsky bought 150,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average cost of $0.19 per share, with a total value of $28,500.00. Following the completion of the purchase, the insider directly owned 950,000 shares in the company, valued at $180,500. This represents a 18.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Scott Wolinsky also recently made the following trade(s):

• On Wednesday, May 27th, Scott Wolinsky bought 150,000 shares of Edible Garden stock. The shares were bought at an average cost of $0.27 per share, with a total value of $40,500.00.

Edible Garden Trading Down 2.8%

EDBL traded down $0.01 on Friday, hitting $0.21. 28,122,888 shares of the company were exchanged, compared to its average volume of 2,814,522. Edible Garden AG Incorporated has a twelve month low of $0.18 and a twelve month high of $32.10. The company has a market cap of $1.14 million, a price-to-earnings ratio of 0.00 and a beta of 1.69. The firm has a 50-day moving average price of $0.62 and a two-hundred day moving average price of $4.55.

Edible Garden (NASDAQ:EDBL) last announced its quarterly earnings results on Friday, May 15th. The company reported ($5.25) earnings per share (EPS) for the quarter. The business had revenue of $3.34 million for the quarter. Edible Garden had a negative return on equity of 1,078.80% and a negative net margin of 131.59%.

Institutional Trading of Edible Garden

A hedge fund recently raised its stake in Edible Garden stock. Cetera Investment Advisers increased its position in Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 96,150 shares of the company’s stock after purchasing an additional 86,150 shares during the period. Cetera Investment Advisers owned 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.

Wall Street Analysts Forecast Growth

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

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.