Edible Garden (NASDAQ:EDBL) Major Shareholder Acquires $13,101.14 in Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Financial Lp Hrt acquired 100,778 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was purchased at an average cost of $0.13 per share, with a total value of $13,101.14. Following the completion of the transaction, the insider owned 810,429 shares in the company, valued at $105,355.77. The trade was a 14.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Large 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 shares were bought at an average cost of $0.12 per share, with a total value of $5,946.24.
• On Wednesday, July 1st, Financial Lp Hrt bought 266,482 shares of Edible Garden stock. The stock was bought at an average cost of $0.17 per share, with a total value of $45,301.94.

Edible Garden Trading Down 24.9%

NASDAQ EDBL traded down $0.03 on Tuesday, hitting $0.09. 4,868,785 shares of the stock traded hands, compared to its average volume of 5,521,835. The stock has a 50-day moving average of $0.28 and a 200 day moving average of $2.68. Edible Garden AG Incorporated has a twelve month low of $0.08 and a twelve month high of $27.80. The company has a market capitalization of $479,631.30, a P/E ratio of -0.00 and a beta of 1.70.

Edible Garden (NASDAQ:EDBL) last announced its quarterly earnings data 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.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Edible Garden from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, June 26th. Maxim Group decreased their target price on Edible Garden to $1.00 and set a “buy” rating for the company in a research note on Monday, June 15th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Edible Garden currently has a consensus rating of “Hold” and a consensus price target of $1.00.

Institutional Trading of Edible Garden

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

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.