Short Interest in Edible Garden AG Incorporated (NASDAQ:EDBL) Grows By 107.9%

Edible Garden AG Incorporated (NASDAQ:EDBL) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 72,666 shares, an increase of 107.9% from the February 26th total of 34,951 shares. Based on an average daily volume of 233,603 shares, the short-interest ratio is currently 0.3 days. Approximately 12.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed 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.com, the stock presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Edible Garden

An institutional investor recently bought a new position in Edible Garden stock. Armistice Capital LLC purchased a new position in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 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 quarter. Institutional investors own 12.99% of the company’s stock.

Edible Garden Stock Performance

Shares of EDBL traded up $0.10 during trading hours on Thursday, reaching $1.22. 268,470 shares of the company’s stock traded hands, compared to its average volume of 390,691. The firm has a market capitalization of $716,850.00, a price-to-earnings ratio of -0.01 and a beta of 2.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.80 and a quick ratio of 0.51. Edible Garden has a twelve month low of $1.09 and a twelve month high of $62.90. The business’s fifty day simple moving average is $3.59 and its two-hundred day simple moving average is $10.46.

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.