Edible Garden Stock to Reverse Split on Tuesday, February 3rd (NASDAQ:EDBL)

Edible Garden AG Incorporated (NASDAQ:EDBL)’s stock is going to reverse split on the morning of Tuesday, February 3rd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, February 2nd.

Edible Garden Price Performance

EDBL stock traded down $0.03 during mid-day trading on Friday, reaching $0.48. The company’s stock had a trading volume of 736,975 shares, compared to its average volume of 2,981,022. The company has a current ratio of 0.80, a quick ratio of 0.51 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $0.90 and its two-hundred day moving average is $1.57. The stock has a market cap of $2.49 million, a PE ratio of -0.02 and a beta of 2.13. Edible Garden has a fifty-two week low of $0.46 and a fifty-two week high of $7.75.

Edible Garden (NASDAQ:EDBL) last released its quarterly earnings data on Friday, November 14th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.87). Edible Garden had a negative return on equity of 1,078.80% and a negative net margin of 115.44%.The firm had revenue of $2.82 million for the quarter, compared to analyst estimates of $3.88 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Edible Garden in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

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.