Edible Garden AG Incorporated (NASDAQ:EDBL) Short Interest Down 25.7% in March
by Teresa Graham · The Cerbat GemEdible Garden AG Incorporated (NASDAQ:EDBL – Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 53,966 shares, a decrease of 25.7% from the March 15th total of 72,666 shares. Based on an average daily volume of 885,161 shares, the days-to-cover ratio is presently 0.1 days. Currently, 9.1% of the shares of the company are short sold.
Institutional Investors Weigh In On Edible Garden
A hedge fund 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 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,150 shares of the company’s stock after acquiring an additional 86,150 shares during the quarter. Cetera Investment Advisers owned about 16.19% of Edible Garden worth $58,000 at the end of the most recent quarter. Institutional investors and hedge funds own 12.99% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edible Garden in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.
Check Out Our Latest Stock Report on Edible Garden
Edible Garden Trading Up 0.9%
Edible Garden stock traded up $0.01 during trading on Wednesday, reaching $0.99. The company had a trading volume of 370,241 shares, compared to its average volume of 344,967. The firm has a market capitalization of $900,627.00, a price-to-earnings ratio of -0.01 and a beta of 2.40. The firm’s 50-day simple moving average is $2.28 and its 200 day simple moving average is $8.66. Edible Garden has a 52 week low of $0.88 and a 52 week high of $62.90.
Edible Garden (NASDAQ:EDBL – Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($24.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.60) by ($19.21). Edible Garden had a negative net margin of 135.30% and a negative return on equity of 1,078.80%. The company had revenue of $4.13 million for the quarter, compared to the consensus estimate of $5.42 million.
About Edible Garden
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.