Edible Garden AG Incorporated (NASDAQ:EDBL – Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 144,202 shares, a growth of 84.8% from the September 30th total of 78,014 shares. Currently, 10.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 191,753 shares, the days-to-cover ratio is presently 0.8 days.
Edible Garden Trading Down 3.2%
Edible Garden stock opened at $0.74 on Friday. Edible Garden has a 1-year low of $0.69 and a 1-year high of $765.00. The firm has a market capitalization of $1.01 million, a price-to-earnings ratio of -0.00 and a beta of 1.74. The firm has a 50 day simple moving average of $1.19 and a 200 day simple moving average of $49.77.
Edible Garden (NASDAQ:EDBL – Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported ($18.79) earnings per share for the quarter, missing the consensus estimate of ($11.70) by ($7.09). The company had revenue of $3.55 million during the quarter, compared to the consensus estimate of $3.38 million.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on EDBL. Wall Street Zen cut Edible Garden from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings cut shares of Edible Garden from a “sell (e+)” rating to a “sell (e)” rating in a research note on Tuesday, October 20th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.00.
Get Our Latest Stock Analysis on Edible Garden
Edible Garden Company Profile
Edible Garden AG Incorporated (NASDAQ: EDBL) is a controlled-environment agriculture company that grows and distributes fresh herbs, leafy greens, microgreens and other produce. Its operations use greenhouse and indoor farming methods designed to provide consistent, locally grown products throughout the year.
The company offers products such as basil, mint, parsley, cilantro, rosemary, sage, lettuce and microgreens. These products are marketed under the Edible Garden brand and related product lines and are sold primarily through grocery retailers and other food distribution channels in the United States.
Edible Garden was established to support more sustainable and efficient food production, with an emphasis on reducing transportation distances, improving freshness and using technology to manage growing conditions.
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