Edible Garden AG Incorporated (NASDAQ:EDBL) Sees Large Decline in Short Interest

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Edible Garden in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Edible Garden stock. Cetera Investment Advisers increased its holdings in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,150 shares of the company’s stock after buying an additional 86,150 shares during the quarter. Cetera Investment Advisers owned 16.19% of Edible Garden worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 12.99% of the company’s stock.

Edible Garden Price Performance

EDBL traded up $0.09 during trading on Friday, hitting $2.42. The stock had a trading volume of 65,664 shares, compared to its average volume of 162,294. The stock has a 50 day simple moving average of $4.48 and a two-hundred day simple moving average of $11.37. 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 $2.19 and a twelve month high of $62.90.

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.