Edible Garden AG Incorporated (NASDAQ:EDBL) Short Interest Update

Edible Garden AG Incorporated (NASDAQ:EDBL) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 60,895 shares, an increase of 170.0% from the July 15th total of 22,556 shares. Currently, 50.7% of the company’s stock are short sold. Based on an average daily trading volume, of 3,038,122 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Edible Garden to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings upgraded shares of Edible Garden from a “sell (e)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Finally, Maxim Group lowered their price target on Edible Garden to $45.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.00.

Edible Garden Stock Performance

Shares of Edible Garden stock opened at $1.67 on Friday. Edible Garden has a 52 week low of $1.56 and a 52 week high of $1,250.96. The firm has a fifty day moving average of $5.52 and a two-hundred day moving average of $54.32. The stock has a market capitalization of $200,400.00, a price-to-earnings ratio of -0.00 and a beta of 1.77.

Insider Activity at Edible Garden

In other Edible Garden news, major shareholder Scott Wolinsky purchased 3,333 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were bought at an average price of $8.55 per share, for a total transaction of $28,497.15. Following the purchase, the insider directly owned 21,111 shares in the company, valued at $180,499.05. This trade represents a 18.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Financial Lp Hrt sold 11,948 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $4.50, for a total transaction of $53,766.00. Following the transaction, the insider directly owned 7,162 shares in the company, valued at $32,229. The trade was a 62.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders acquired 15,927 shares of company stock valued at $133,332 over the last three months. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Edible Garden stock. Cetera Investment Advisers increased its holdings in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 96,150 shares of the company’s stock after purchasing an additional 86,150 shares during the quarter. Cetera Investment Advisers owned 16.19% of Edible Garden worth $58,000 as of its most recent filing with the SEC. 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.