Edible Garden (NASDAQ:EDBL) Posts Earnings Results, Misses Expectations By $0.87 EPS

Edible Garden (NASDAQ:EDBL) announced its earnings results on Friday. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.87), Zacks reports. The company had revenue of $2.82 million during the quarter, compared to analysts’ expectations of $3.88 million. Edible Garden had a negative return on equity of 460.61% and a negative net margin of 101.53%.

Edible Garden Trading Down 2.2%

Shares of EDBL traded down $0.03 during mid-day trading on Friday, hitting $1.31. 53,807 shares of the company’s stock traded hands, compared to its average volume of 111,390. The company has a quick ratio of 1.14, a current ratio of 1.49 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.83 million, a P/E ratio of -0.04 and a beta of 2.08. The business’s 50-day moving average price is $1.76 and its 200-day moving average price is $2.27. Edible Garden has a 1 year low of $1.30 and a 1 year high of $13.50.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Edible Garden in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Edible Garden from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Edible Garden presently has an average rating of “Sell”.

About Edible Garden

Edible Garden AG Incorporated, together with its subsidiaries, operate as a controlled environment agriculture farming company. It offers various packaged products, including cilantro, rosemary, mint, thyme, oregano, bay leaves, chives, poultry mix, sage, dill, buttercrunch living lettuce, basil, living butterhead lettuce, basil, parsley, arugula spring mix, baby arugula blend, baby romaine, and crisp ranch and Caesar salad kits.