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

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

Edible Garden Trading Down 5.0%

Shares of EDBL stock traded down $0.03 on Friday, hitting $0.48. The company had a trading volume of 736,975 shares, compared to its average volume of 2,944,228. Edible Garden has a twelve month low of $0.46 and a twelve month high of $7.75. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.51 and a current ratio of 0.80. The company has a 50-day moving average price of $0.90 and a 200-day moving average price of $1.57.

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

Wall Street Analyst Weigh In

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, Edible Garden has an average 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.