Edible Garden (NASDAQ:EDBL) Major Shareholder Buys $45,301.94 in Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Financial Lp Hrt acquired 266,482 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were acquired at an average price of $0.17 per share, for a total transaction of $45,301.94. Following the acquisition, the insider directly owned 709,651 shares in the company, valued at $120,640.67. This represents a 60.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Monday, July 6th, Financial Lp Hrt bought 49,552 shares of Edible Garden stock. The shares were acquired at an average cost of $0.12 per share, with a total value of $5,946.24.
• On Thursday, July 2nd, Financial Lp Hrt bought 100,778 shares of Edible Garden stock. The shares were bought at an average price of $0.13 per share, for a total transaction of $13,101.14.

Edible Garden Price Performance

EDBL traded down $0.03 during trading on Tuesday, reaching $0.09. The company had a trading volume of 4,813,040 shares, compared to its average volume of 5,521,835. Edible Garden AG Incorporated has a 12 month low of $0.08 and a 12 month high of $27.80. The business’s fifty day moving average price is $0.28 and its 200 day moving average price is $2.68. The company has a market cap of $479,631.30, a P/E ratio of -0.00 and a beta of 1.70.

Edible Garden (NASDAQ:EDBL) last issued its quarterly earnings data on Friday, May 15th. The company reported ($5.25) earnings per share (EPS) for the quarter. The firm had revenue of $3.34 million for the quarter.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings raised Edible Garden from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, June 26th. Maxim Group reduced their price objective on Edible Garden to $1.00 and set a “buy” rating for the company in a research report on Monday, June 15th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Edible Garden currently has a consensus rating of “Hold” and a consensus price target of $1.00.

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.