Insider Buying: Edible Garden (NASDAQ:EDBL) Major Shareholder Buys 150,000 Shares of Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Scott Wolinsky bought 150,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $0.19 per share, with a total value of $28,500.00. Following the purchase, the insider owned 950,000 shares of the company’s stock, valued at $180,500. The trade was a 18.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Scott Wolinsky also recently made the following trade(s):

• On Wednesday, May 27th, Scott Wolinsky bought 150,000 shares of Edible Garden stock. The shares were acquired at an average cost of $0.27 per share, with a total value of $40,500.00.

Edible Garden Trading Down 2.8%

EDBL stock traded down $0.01 during midday trading on Friday, hitting $0.21. 28,122,888 shares of the company’s stock were exchanged, compared to its average volume of 2,814,522. The business has a 50-day simple moving average of $0.62 and a two-hundred day simple moving average of $4.55. The stock has a market capitalization of $1.14 million, a PE ratio of 0.00 and a beta of 1.69. Edible Garden AG Incorporated has a 1-year low of $0.18 and a 1-year high of $32.10.

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

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) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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. 12.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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