Edible Garden (NASDAQ:EDBL) Shares Set to Reverse Split on Tuesday, February 3rd

Edible Garden AG Incorporated (NASDAQ:EDBL)’s stock is set to reverse split before the market opens on Tuesday, February 3rd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, February 2nd.

Edible Garden Price Performance

Shares of EDBL stock traded down $0.03 during trading on Friday, hitting $0.48. The company had a trading volume of 736,975 shares, compared to its average volume of 2,944,228. The stock’s 50-day moving average is $0.90 and its two-hundred day moving average is $1.57. The company has a quick ratio of 0.51, a current ratio of 0.80 and a debt-to-equity ratio of 0.24. Edible Garden has a 52 week low of $0.46 and a 52 week high of $7.75.

Edible Garden (NASDAQ:EDBL) last released its earnings results on Friday, November 14th. The company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.87). The firm had revenue of $2.82 million during the quarter, compared to the consensus estimate of $3.88 million. Edible Garden had a negative net margin of 115.44% and a negative return on equity of 1,078.80%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Edible Garden in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus 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.