Financial Lp Hrt Buys 100,778 Shares of Edible Garden (NASDAQ:EDBL) Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Financial Lp Hrt acquired 100,778 shares of Edible Garden stock in a transaction dated Thursday, July 2nd. The shares were acquired at an average price of $0.13 per share, with a total value of $13,101.14. Following the completion of the transaction, the insider owned 810,429 shares of the company’s stock, valued at approximately $105,355.77. This trade represents a 14.20% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more 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 Monday, July 6th, Financial Lp Hrt bought 49,552 shares of Edible Garden stock. The stock was acquired at an average price of $0.12 per share, for a total transaction of $5,946.24.
• On Wednesday, July 1st, Financial Lp Hrt bought 266,482 shares of Edible Garden stock. The shares were acquired at an average cost of $0.17 per share, for a total transaction of $45,301.94.

Edible Garden Stock Down 24.9%

EDBL stock traded down $0.03 during trading on Tuesday, reaching $0.09. 4,868,785 shares of the company’s stock were exchanged, compared to its average volume of 5,521,835. Edible Garden AG Incorporated has a 1-year low of $0.08 and a 1-year high of $27.80. The firm has a market cap of $479,631.30, a PE ratio of -0.00 and a beta of 1.70. The company’s fifty day moving average price is $0.28 and its 200-day moving average price is $2.68.

Edible Garden (NASDAQ:EDBL) last released its quarterly earnings results on Friday, May 15th. The company reported ($5.25) EPS for the quarter. The business had revenue of $3.34 million for the quarter.

Institutional Investors Weigh In On Edible Garden

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

Wall Street Analyst Weigh In

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

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.