Scott Wolinsky Acquires 150,000 Shares of Edible Garden (NASDAQ:EDBL) Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Scott Wolinsky purchased 150,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $0.19 per share, with a total value of $28,500.00. Following the acquisition, the insider owned 950,000 shares of the company’s stock, valued at approximately $180,500. The trade was a 18.75% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Scott Wolinsky also recently made the following trade(s):

• On Wednesday, May 27th, Scott Wolinsky purchased 150,000 shares of Edible Garden stock. The stock was bought at an average cost of $0.27 per share, with a total value of $40,500.00.

Edible Garden Stock Performance

NASDAQ:EDBL opened at $0.21 on Friday. Edible Garden AG Incorporated has a one year low of $0.18 and a one year high of $32.10. The stock has a market cap of $1.14 million, a PE ratio of 0.00 and a beta of 1.69. The stock has a 50 day moving average price of $0.60 and a 200 day moving average price of $4.52.

Edible Garden (NASDAQ:EDBL) last posted its quarterly earnings results on Friday, May 15th. The company reported ($5.25) EPS for the quarter. Edible Garden had a negative net margin of 131.59% and a negative return on equity of 1,078.80%. The company had revenue of $3.34 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edible Garden in a report on Monday, April 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Edible Garden

A hedge fund recently raised its stake in Edible Garden stock. Cetera Investment Advisers boosted its holdings in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,150 shares of the company’s stock after acquiring an additional 86,150 shares during the quarter. Cetera Investment Advisers owned about 16.19% of Edible Garden worth $58,000 at the end of the most recent quarter. Institutional investors own 12.99% of the company’s stock.

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.