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

Edible Garden AG Incorporated (NASDAQ:EDBL) shares are set 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 Stock Performance

Shares of NASDAQ EDBL traded down $0.03 during trading on Friday, reaching $0.48. The company had a trading volume of 736,975 shares, compared to its average volume of 2,944,228. The company’s fifty day moving average price is $0.90 and its 200-day moving average price is $1.57. The company has a current ratio of 0.80, a quick ratio of 0.51 and a debt-to-equity ratio of 0.24. Edible Garden has a 12 month low of $0.46 and a 12 month high of $7.75.

Edible Garden (NASDAQ:EDBL) last issued 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 company had revenue of $2.82 million during the quarter, compared to analyst estimates 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 reiterated a “sell (e+)” rating on shares of Edible Garden in a report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Edible Garden currently 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.