Key Points
- Major shareholder Scott Wolinsky bought 150,000 Edible Garden shares on June 5 at $0.19 each, spending $28,500 and increasing his stake by 18.75% to 950,000 shares.
- Wolinsky also purchased 150,000 shares on May 27 at $0.27 each, showing continued insider buying despite the stock’s sharp decline.
- Edible Garden is trading near its 52-week low, and the company recently reported a loss of $5.25 per share on $3.34 million in quarterly revenue, while analysts currently rate the stock a Sell.
Edible Garden AG Incorporated (NASDAQ:EDBL - Get Free Report) major shareholder Scott Wolinsky bought 150,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $0.19 per share, for a total transaction of $28,500.00. Following the completion of the purchase, the insider directly owned 950,000 shares in the company, valued at $180,500. The trade was a 18.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Scott Wolinsky also recently made the following trade(s):
- On Wednesday, May 27th, Scott Wolinsky purchased 150,000 shares of Edible Garden stock. The stock was bought at an average cost of $0.27 per share, with a total value of $40,500.00.
Edible Garden Price Performance
Shares of Edible Garden stock opened at $0.21 on Friday. Edible Garden AG Incorporated has a fifty-two week low of $0.18 and a fifty-two week high of $32.10. The firm has a fifty day moving average price of $0.60 and a two-hundred day moving average price of $4.52. The company has a market cap of $1.14 million, a PE ratio of 0.00 and a beta of 1.69.
Edible Garden (NASDAQ:EDBL - Get Free Report) last issued its quarterly earnings results on Friday, May 15th. The company reported ($5.25) earnings per share for the quarter. Edible Garden had a negative net margin of 131.59% and a negative return on equity of 1,078.80%. The company had revenue of $3.34 million during the quarter.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Edible Garden in a report on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Edible Garden has a consensus rating of "Sell".
Read Our Latest Stock Analysis on Edible Garden
Institutional Trading of Edible Garden
An institutional investor recently raised its position in Edible Garden stock. Cetera Investment Advisers lifted its holdings in shares of Edible Garden AG Incorporated (NASDAQ:EDBL - Free Report) by 861.5% in the fourth quarter, according to its most recent filing with the SEC. The firm 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 filing with the SEC. 12.99% of the stock is owned by institutional investors and hedge funds.
Edible Garden Company Profile
(
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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