Edible Garden (NASDAQ:EDBL) Upgraded to Hold at Wall Street Zen

Edible Garden (NASDAQ:EDBL) was upgraded by investment analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday.

A number of other research firms have also recently commented on EDBL. Weiss Ratings cut shares of Edible Garden from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday. Maxim Group decreased their price target on shares of Edible Garden to $45.00 and set a “buy” rating on the stock in a report on Monday, June 15th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.00.

Edible Garden Stock Up 0.6%

Edible Garden stock opened at $3.23 on Friday. Edible Garden has a 12-month low of $2.98 and a 12-month high of $1,250.96. The business’s 50-day moving average price is $9.51 and its two-hundred day moving average price is $95.76. The stock has a market cap of $387,600.00, a PE ratio of -0.00 and a beta of 1.70.

Insider Buying and Selling at Edible Garden

In other Edible Garden news, major shareholder Financial Lp Hrt sold 11,948 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $4.50, for a total value of $53,766.00. Following the completion of the transaction, the insider owned 7,162 shares of the company’s stock, valued at $32,229. This represents a 62.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Scott Wolinsky bought 3,333 shares of the stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $8.55 per share, with a total value of $28,497.15. Following the acquisition, the insider owned 21,111 shares in the company, valued at approximately $180,499.05. This represents a 18.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 15,927 shares of company stock worth $133,332. 0.84% of the stock is currently owned by company insiders.

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) by 861.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,150 shares of the company’s stock after buying an additional 86,150 shares during the quarter. Cetera Investment Advisers owned 16.19% of Edible Garden worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 12.99% of the company’s stock.

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.