Edible Garden AG Incorporated (NASDAQ:EDBL) Short Interest Down 15.9% in January

Edible Garden AG Incorporated (NASDAQ:EDBL) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 310,111 shares, a decline of 15.9% from the January 15th total of 368,601 shares. Currently, 52.3% of the company’s stock are short sold. Based on an average daily trading volume, of 321,706 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily trading volume, of 321,706 shares, the days-to-cover ratio is presently 1.0 days. Currently, 52.3% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Edible Garden stock. Cetera Investment Advisers increased its position in Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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. 12.99% of the stock is owned by institutional investors.

Edible Garden Stock Performance

EDBL traded down $0.03 on Wednesday, hitting $3.32. The company had a trading volume of 740 shares, compared to its average volume of 263,243. The stock has a market cap of $1.96 million, a price-to-earnings ratio of -0.02 and a beta of 2.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.80 and a quick ratio of 0.51. The company’s fifty day moving average price is $6.86 and its 200 day moving average price is $13.66. Edible Garden has a 1-year low of $2.93 and a 1-year high of $62.90.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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 MarketBeat.com, 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.