Key Points
- Edible Garden major shareholder Financial Lp Hrt sold 537,670 shares on July 7 at an average price of $0.10, reducing its stake by 62.52% to 322,311 shares.
- The same shareholder had recently bought shares on July 1, 2, and 6, including a large 266,482-share purchase at $0.17, before turning around and selling a larger block.
- Edible Garden’s stock was trading near $0.12, far below its 50-day average of $0.25 and 200-day average of $2.44, while analysts currently assign it a consensus Hold rating with a $1.00 price target.
Edible Garden AG Incorporated (NASDAQ:EDBL - Get Free Report) major shareholder Financial Lp Hrt sold 537,670 shares of Edible Garden stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $0.10, for a total transaction of $53,767.00. Following the sale, the insider owned 322,311 shares in the company, valued at $32,231.10. This represents a 62.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% 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 bought 49,552 shares of Edible Garden stock. The stock was acquired at an average cost of $0.12 per share, for a total transaction of $5,946.24.
- On Thursday, July 2nd, Financial Lp Hrt purchased 100,778 shares of Edible Garden stock. The stock was acquired at an average cost of $0.13 per share, with a total value of $13,101.14.
- On Wednesday, July 1st, Financial Lp Hrt purchased 266,482 shares of Edible Garden stock. The stock was acquired at an average cost of $0.17 per share, with a total value of $45,301.94.
Edible Garden Price Performance
Shares of EDBL opened at $0.12 on Friday. The company has a 50-day moving average price of $0.25 and a two-hundred day moving average price of $2.44. The stock has a market cap of $634,520.00, a price-to-earnings ratio of -0.00 and a beta of 1.70. Edible Garden AG Incorporated has a 12 month low of $0.08 and a 12 month high of $27.80.
Edible Garden (NASDAQ:EDBL - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($5.25) earnings per share (EPS) for the quarter. The firm had revenue of $3.34 million during the quarter.
Institutional Investors Weigh In On Edible Garden
An institutional investor recently bought a new position in Edible Garden stock. Armistice Capital LLC purchased a new stake in shares of Edible Garden AG Incorporated (NASDAQ:EDBL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 222,072 shares of the company's stock, valued at approximately $135,000. Armistice Capital LLC owned approximately 37.64% of Edible Garden at the end of the most recent reporting period. 12.99% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have issued reports on EDBL shares. Maxim Group dropped their price objective on Edible Garden to $1.00 and set a "buy" rating for the company in a research note on Monday, June 15th. Weiss Ratings upgraded shares of Edible Garden from a "sell (e)" rating to a "sell (e+)" rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Edible Garden currently has a consensus rating of "Hold" and a consensus target price of $1.00.
Get Our Latest Report on EDBL
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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