Key Points
- Scott Wolinsky, a major shareholder of Edible Garden, bought 150,000 shares on May 27 at an average price of $0.27 each, increasing his holdings to 1.7 million shares.
- Edible Garden shares were trading down 14.9% and opened at $0.20, near the stock’s 52-week low. The company’s market cap was about $1.10 million.
- The company reported a loss of $5.25 per share in its latest quarter on $3.34 million in revenue, and analysts currently have a Sell consensus rating on the stock.
Edible Garden AG Incorporated (NASDAQ:EDBL - Get Free Report) major shareholder Scott Wolinsky bought 150,000 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average price of $0.27 per share, with a total value of $40,500.00. Following the transaction, the insider owned 1,700,000 shares in the company, valued at approximately $459,000. This represents a 9.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Edible Garden Trading Down 14.9%
Shares of EDBL opened at $0.20 on Thursday. The firm has a market cap of $1.10 million, a price-to-earnings ratio of 0.00 and a beta of 1.69. The stock has a 50 day moving average of $0.64 and a 200-day moving average of $4.64. Edible Garden AG Incorporated has a 52 week low of $0.20 and a 52 week high of $32.10.
Edible Garden (NASDAQ:EDBL - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($5.25) EPS for the quarter. The firm had revenue of $3.34 million during the quarter. Edible Garden had a negative return on equity of 1,078.80% and a negative net margin of 131.59%.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Edible Garden in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Edible Garden presently has a consensus rating of "Sell".
Read Our Latest Stock Analysis on Edible Garden
Institutional Trading of Edible Garden
A hedge fund recently raised its stake in Edible Garden stock. Cetera Investment Advisers raised its holdings in shares of Edible Garden AG Incorporated (NASDAQ:EDBL - Free Report) by 861.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,150 shares of the company's stock after acquiring an additional 86,150 shares during the period. Cetera Investment Advisers owned approximately 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.
About Edible Garden
(
Get Free Report)
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.
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