Short Interest in Edible Garden AG Incorporated (NASDAQ:EDBL) Declines By 46.9%

Edible Garden AG Incorporated (NASDAQ:EDBL) was the recipient of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 34,951 shares, a decline of 46.9% from the February 12th total of 65,798 shares. Currently, 5.9% of the company’s stock are sold short. Based on an average daily trading volume, of 93,031 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily trading volume, of 93,031 shares, the days-to-cover ratio is currently 0.4 days. Currently, 5.9% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

Edible Garden Stock Performance

Shares of NASDAQ:EDBL traded up $0.09 during trading on Friday, reaching $2.42. 65,664 shares of the company’s stock traded hands, compared to its average volume of 237,179. The stock has a market capitalization of $1.44 million, a P/E ratio of -0.01 and a beta of 2.18. Edible Garden has a 12 month low of $2.19 and a 12 month high of $62.90. The company has a 50 day moving average of $4.57 and a 200-day moving average of $11.53. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.80 and a quick ratio of 0.51.

Institutional Trading of Edible Garden

An institutional investor recently bought a new position in Edible Garden stock. Armistice Capital LLC acquired a new position in Edible Garden AG Incorporated (NASDAQ:EDBL) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned approximately 37.64% of Edible Garden at the end of the most recent reporting period. Institutional investors and hedge funds own 12.99% of the company’s stock.

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.