Key Points
- Major shareholder Financial Lp Hrt bought 266,482 shares of Edible Garden on July 1 at an average price of $0.17, a purchase worth about $45,302. The filing says this increased its ownership by 60.13% to 709,651 shares.
- Financial Lp Hrt also added to its stake in follow-up trades, buying 100,778 shares on July 2 and 49,552 shares on July 6. Those purchases were made at average prices of $0.13 and $0.12 per share, respectively.
- Edible Garden’s stock has been extremely weak, opening at $0.09 with a 52-week range of $0.08 to $27.80. The company recently reported a quarterly loss of $5.25 per share on revenue of $3.34 million.
Edible Garden AG Incorporated (NASDAQ:EDBL - Get Free Report) major shareholder Financial Lp Hrt bought 100,778 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The shares were purchased at an average price of $0.13 per share, for a total transaction of $13,101.14. Following the completion of the purchase, the insider directly 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company's stock 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 purchased 49,552 shares of Edible Garden stock. The shares were purchased at an average price of $0.12 per share, with a total value of $5,946.24.
- On Wednesday, July 1st, Financial Lp Hrt acquired 266,482 shares of Edible Garden stock. The stock was purchased at an average cost of $0.17 per share, for a total transaction of $45,301.94.
Edible Garden Trading Down 24.9%
Shares of EDBL opened at $0.09 on Wednesday. The firm has a market capitalization of $479,719.00, a price-to-earnings ratio of -0.00 and a beta of 1.70. The firm's fifty day simple moving average is $0.27 and its 200-day simple moving average is $2.59. Edible Garden AG Incorporated has a twelve month low of $0.08 and a twelve month high of $27.80.
Edible Garden (NASDAQ:EDBL - Get Free Report) last posted its earnings results on Friday, May 15th. The company reported ($5.25) EPS for the quarter. The company had revenue of $3.34 million during the quarter.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Weiss Ratings upgraded Edible Garden from a "sell (e)" rating to a "sell (e+)" rating in a research note on Friday, June 26th. Maxim Group cut their price objective on shares of Edible Garden to $1.00 and set a "buy" rating on the stock in a report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $1.00.
Read Our Latest Research Report on EDBL
Institutional Trading of Edible Garden
An institutional investor recently raised its stake in Edible Garden stock. Cetera Investment Advisers increased its position in Edible Garden AG Incorporated (NASDAQ:EDBL - Free Report) by 861.5% in the 4th quarter, according to its most recent filing with the SEC. 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 16.19% of Edible Garden worth $58,000 at the end of the most recent quarter. 12.99% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
