Edible Garden AG Incorporated (NASDAQ:EDBL) Short Interest Down 46.9% in February

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

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 research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Edible Garden Stock Performance

Shares of NASDAQ EDBL traded down $0.05 during trading on Thursday, reaching $2.33. 936,663 shares of the stock traded hands, compared to its average volume of 117,956. The company has a quick ratio of 0.51, a current ratio of 0.80 and a debt-to-equity ratio of 0.24. Edible Garden has a 52-week low of $2.19 and a 52-week high of $62.90. The company has a 50-day moving average of $4.57 and a 200-day moving average of $11.53.

Institutional Inflows and Outflows

An institutional investor recently bought a new position 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 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.