Edible Garden (NASDAQ:EDBL – Get Free Report) had its target price reduced by equities researchers at Maxim Group from $80.00 to $1.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Maxim Group’s price target would indicate a potential upside of 288.50% from the company’s previous close.
Separately, Weiss Ratings cut Edible Garden from a “sell (e+)” rating to a “sell (e)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $1.00.
Get Our Latest Stock Analysis on Edible Garden
Edible Garden Stock Performance
Edible Garden (NASDAQ:EDBL – Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The company reported ($5.25) EPS for the quarter. The firm had revenue of $3.34 million during the quarter. Edible Garden had a negative return on equity of 1,078.80% and a negative net margin of 131.59%.
Insider Buying and Selling at Edible Garden
In related news, major shareholder Scott Wolinsky bought 150,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were acquired at an average price of $0.19 per share, for a total transaction of $28,500.00. Following the purchase, the insider owned 950,000 shares in the company, valued at $180,500. This trade represents a 18.75% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.84% of the company’s stock.
Institutional Trading of Edible Garden
A hedge fund recently raised its stake in Edible Garden stock. Cetera Investment Advisers grew its holdings in shares of Edible Garden AG Incorporated (NASDAQ:EDBL – Free Report) by 861.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 as of its most recent SEC filing. 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.
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