Financial Lp Hrt Purchases 266,482 Shares of Edible Garden (NASDAQ:EDBL) Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Financial Lp Hrt acquired 266,482 shares of Edible Garden stock in a transaction dated Wednesday, July 1st. The shares were purchased at an average cost of $0.17 per share, with a total value of $45,301.94. Following the completion of the transaction, the insider directly owned 709,651 shares of the company’s stock, valued at $120,640.67. This trade represents a 60.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, July 6th, Financial Lp Hrt bought 49,552 shares of Edible Garden stock. The stock was purchased at an average cost of $0.12 per share, for a total transaction of $5,946.24.
• On Thursday, July 2nd, Financial Lp Hrt purchased 100,778 shares of Edible Garden stock. The shares were purchased at an average cost of $0.13 per share, with a total value of $13,101.14.

Edible Garden Stock Up 32.3%

Shares of EDBL stock opened at $0.12 on Thursday. Edible Garden AG Incorporated has a 12 month low of $0.08 and a 12 month high of $27.80. The company’s fifty day simple moving average is $0.26 and its 200-day simple moving average is $2.51. The firm has a market cap of $634,520.00, a PE ratio of -0.00 and a beta of 1.70.

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

Hedge Funds Weigh In On Edible Garden

A hedge fund recently bought a new position in Edible Garden stock. Armistice Capital LLC bought a new position in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned 37.64% of Edible Garden at the end of the most recent quarter. 12.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EDBL has been the subject of several analyst reports. Weiss Ratings raised shares of Edible Garden from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, June 26th. Maxim Group dropped their price target on shares of Edible Garden to $1.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on 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.