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

Edible Garden AG Incorporated (NASDAQ:EDBL) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 2,040,751 shares, an increase of 2,308.2% from the April 30th total of 84,740 shares. Based on an average daily volume of 11,907,153 shares, the days-to-cover ratio is presently 0.2 days. Approximately 37.4% of the shares of the company are short sold.

Edible Garden Stock Performance

Edible Garden stock traded down $0.03 during mid-day trading on Friday, reaching $0.26. 932,621 shares of the company were exchanged, compared to its average volume of 2,582,125. The business has a fifty day moving average of $0.79 and a 200 day moving average of $5.03. The firm has a market cap of $1.41 million, a P/E ratio of 0.00 and a beta of 1.84. Edible Garden has a 12-month low of $0.23 and a 12-month high of $38.90.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Edible Garden

A hedge fund recently bought a new stake 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 disclosure with the Securities and Exchange Commission. The firm purchased 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned 37.64% of Edible Garden as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 12.99% of the company’s stock.

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.