Financial Lp Hrt Sells 537,670 Shares of Edible Garden (NASDAQ:EDBL) Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Financial Lp Hrt sold 537,670 shares of Edible Garden stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $0.10, for a total transaction of $53,767.00. Following the transaction, the insider directly owned 322,311 shares in the company, valued at $32,231.10. This represents a 62.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Monday, July 6th, Financial Lp Hrt acquired 49,552 shares of Edible Garden stock. The stock was acquired at an average price of $0.12 per share, for a total transaction of $5,946.24.
• On Thursday, July 2nd, Financial Lp Hrt bought 100,778 shares of Edible Garden stock. The stock was bought at an average cost of $0.13 per share, for a total transaction of $13,101.14.
• On Wednesday, July 1st, Financial Lp Hrt acquired 266,482 shares of Edible Garden stock. The shares were bought 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 $0.10 on Friday. The business’s 50 day simple moving average is $0.25 and its 200-day simple moving average is $2.42. Edible Garden AG Incorporated has a 1 year low of $0.08 and a 1 year high of $27.80. The stock has a market capitalization of $533,325.00, a price-to-earnings ratio of -0.00 and a beta of 1.70.

Shares of Edible Garden are set to reverse split on the morning of Monday, July 13th. The 1-45 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, July 12th.

Edible Garden (NASDAQ:EDBL) last issued its quarterly earnings data on Friday, May 15th. The company reported ($5.25) earnings per share (EPS) for the quarter. The business had revenue of $3.34 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Edible Garden stock. Armistice Capital LLC purchased a new position in Edible Garden AG Incorporated (NASDAQ:EDBL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned about 37.64% of Edible Garden at the end of the most recent quarter. Hedge funds and other institutional investors own 12.99% of the company’s stock.

Analyst Ratings Changes

EDBL has been the subject of several research analyst reports. Maxim Group decreased their price target on shares of Edible Garden to $1.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Weiss Ratings raised shares of Edible Garden from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Edible Garden presently has an average rating of “Hold” and an average target price of $1.00.

Edible Garden Company Profile

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.