Short Interest in Edible Garden AG Incorporated (NASDAQ:EDBL) Rises By 107.9%

Edible Garden AG Incorporated (NASDAQ:EDBL) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 72,666 shares, an increase of 107.9% from the February 26th total of 34,951 shares. Based on an average daily trading volume, of 233,603 shares, the short-interest ratio is currently 0.3 days. Approximately 12.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

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

Edible Garden Stock Down 11.3%

Shares of Edible Garden stock traded down $0.13 on Friday, hitting $1.02. The company had a trading volume of 200,363 shares, compared to its average volume of 388,868. Edible Garden has a 1 year low of $0.98 and a 1 year high of $62.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.51 and a current ratio of 0.80. The stock has a 50 day moving average of $3.47 and a 200-day moving average of $10.39. The stock has a market capitalization of $601,800.00, a price-to-earnings ratio of 0.00 and a beta of 2.18.

Hedge Funds Weigh In On Edible Garden

An institutional investor recently bought a new position in Edible Garden stock. Armistice Capital LLC acquired a new position in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned about 37.64% of Edible Garden at the end of the most recent reporting period. Institutional investors own 12.99% of the company’s stock.

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.