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

Edible Garden AG Incorporated (NASDAQ:EDBL) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 74,118 shares, a decline of 47.0% from the August 15th total of 139,913 shares. Approximately 5.4% of the shares of the company are sold short. Based on an average daily volume of 181,174 shares, the days-to-cover ratio is currently 0.4 days.

Edible Garden Stock Performance

Shares of Edible Garden stock traded down $0.02 on Wednesday, hitting $1.39. The company had a trading volume of 59,354 shares, compared to its average volume of 161,103. The stock has a market capitalization of $1.92 million, a price-to-earnings ratio of -0.00 and a beta of 1.75. The stock has a 50 day moving average of $2.18 and a 200-day moving average of $25.51. Edible Garden has a 1 year low of $1.37 and a 1 year high of $1,250.96.

Edible Garden (NASDAQ:EDBL) last issued its quarterly earnings results on Friday, August 14th. The company reported ($18.79) EPS for the quarter, missing analysts’ consensus estimates of ($11.70) by ($7.09). The company had revenue of $3.55 million during the quarter, compared to the consensus estimate of $3.38 million.

Analyst Ratings Changes

Several brokerages recently issued reports on EDBL. Maxim Group decreased their price target on shares of Edible Garden to $45.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Weiss Ratings raised Edible Garden from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, August 31st. Finally, Wall Street Zen lowered Edible Garden from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.00.

Insider Buying and Selling at Edible Garden

In related news, major shareholder Financial Lp Hrt sold 11,948 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $4.50, for a total value of $53,766.00. Following the transaction, the insider directly owned 7,162 shares in the company, valued at approximately $32,229. This represents a 62.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired a total of 9,261 shares of company stock worth $64,339 over the last three months. 0.84% of the stock is currently owned by company insiders.

Edible Garden Company Profile

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.