Insider Buying: 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 stock in a transaction dated Wednesday, July 1st. The stock was acquired at an average cost of $0.17 per share, with a total value of $45,301.94. Following the purchase, the insider owned 709,651 shares of the company’s stock, valued at approximately $120,640.67. This trade represents a 60.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, July 7th, Financial Lp Hrt sold 537,670 shares of Edible Garden stock. The stock was sold at an average price of $0.10, for a total transaction of $53,767.00.
• On Monday, July 6th, Financial Lp Hrt bought 49,552 shares of Edible Garden stock. The shares were acquired at an average price of $0.12 per share, for a total transaction of $5,946.24.
• On Thursday, July 2nd, Financial Lp Hrt purchased 100,778 shares of Edible Garden stock. The stock was acquired at an average cost of $0.13 per share, with a total value of $13,101.14.

Edible Garden Price Performance

NASDAQ:EDBL opened at $0.12 on Friday. The company has a fifty day simple moving average of $0.25 and a two-hundred day simple moving average of $2.44. The company has a market cap of $634,520.00, a price-to-earnings ratio of -0.00 and a beta of 1.70. Edible Garden AG Incorporated has a 52 week low of $0.08 and a 52 week high of $27.80.

Edible Garden (NASDAQ:EDBL) last announced 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 during the quarter.

Wall Street Analysts Forecast Growth

EDBL has been the topic of a number of analyst reports. Maxim Group reduced their price target on Edible Garden to $1.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. Weiss Ratings raised Edible Garden from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $1.00.

Institutional Trading of Edible Garden

A hedge fund recently raised its stake in Edible Garden stock. Cetera Investment Advisers grew its holdings in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% in the fourth quarter, according to its most recent 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 period. 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). 12.99% of the stock is owned by institutional investors.

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.