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

Edible Garden AG Incorporated (NASDAQ:EDBL) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 291,160 shares, a decline of 85.7% from the May 14th total of 2,040,751 shares. Based on an average trading volume of 3,157,779 shares, the days-to-cover ratio is currently 0.1 days. Approximately 5.4% of the shares of the company are short sold.

Edible Garden Stock Performance

Shares of Edible Garden stock traded up $0.01 during trading on Wednesday, hitting $0.23. 1,222,246 shares of the stock traded hands, compared to its average volume of 2,878,538. The stock has a market cap of $1.27 million, a P/E ratio of 0.00 and a beta of 1.69. Edible Garden has a twelve month low of $0.18 and a twelve month high of $31.30. The company has a fifty day moving average price of $0.57 and a two-hundred day moving average price of $4.30.

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

Insider Transactions at Edible Garden

In related news, major shareholder Scott Wolinsky acquired 150,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of $0.19 per share, for a total transaction of $28,500.00. Following the completion of the purchase, the insider directly owned 950,000 shares in the company, valued at $180,500. This trade represents a 18.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Edible Garden

A hedge fund recently bought a new stake in Edible Garden stock. Armistice Capital LLC bought a new position in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned about 37.64% of Edible Garden as of its most recent filing with the Securities & Exchange Commission. 12.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Edible Garden in a research note on Monday, April 20th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently 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.