Scott Wolinsky Buys 150,000 Shares of Edible Garden (NASDAQ:EDBL) Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Scott Wolinsky bought 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average cost of $0.27 per share, with a total value of $40,500.00. Following the completion of the purchase, the insider directly owned 1,700,000 shares of the company’s stock, valued at $459,000. This represents a 9.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Edible Garden Stock Performance

EDBL opened at $0.21 on Friday. The stock has a market capitalization of $1.17 million, a price-to-earnings ratio of 0.00 and a beta of 1.69. The company has a fifty day moving average of $0.62 and a 200 day moving average of $4.55. Edible Garden AG Incorporated has a fifty-two week low of $0.18 and a fifty-two week 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 for the quarter. The company had revenue of $3.34 million for the quarter. Edible Garden had a negative net margin of 131.59% and a negative return on equity of 1,078.80%.

Hedge Funds Weigh In On Edible Garden

A hedge fund recently bought a new stake in Edible Garden stock. Armistice Capital LLC acquired a new position in Edible Garden AG Incorporated (NASDAQ:EDBL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned approximately 37.64% of Edible Garden as of its most recent SEC filing. 12.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edible Garden in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average 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.