Edible Garden AG Incorporated (NASDAQ:EDBL) Sees Significant Decrease in Short Interest

Edible Garden AG Incorporated (NASDAQ:EDBL) was the recipient of a significant decline in short interest in January. As of January 30th, there was short interest totaling 310,111 shares, a decline of 15.9% from the January 15th total of 368,601 shares. Based on an average daily volume of 321,706 shares, the short-interest ratio is currently 1.0 days. Approximately 52.3% of the company’s stock are short sold. Approximately 52.3% of the company’s stock are short sold. Based on an average daily volume of 321,706 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edible Garden in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Edible Garden Price Performance

Shares of NASDAQ:EDBL opened at $3.35 on Monday. The stock has a market capitalization of $1.98 million, a P/E ratio of -0.02 and a beta of 2.13. The business has a 50-day moving average of $7.25 and a two-hundred day moving average of $13.96. Edible Garden has a fifty-two week low of $2.93 and a fifty-two week high of $77.50. 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 (NASDAQ:EDBL) last posted its earnings results on Friday, November 14th. The company reported ($13.80) earnings per share for the quarter, missing the consensus estimate of ($5.10) by ($8.70). Edible Garden had a negative return on equity of 1,078.80% and a negative net margin of 115.44%.The company had revenue of $2.82 million during the quarter, compared to analyst estimates of $3.88 million.

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.