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

Wall Street Zen upgraded shares of Edible Garden (NASDAQ:EDBL) to a hold rating in a research report released on Saturday.

EDBL has been the topic of several other reports. Weiss Ratings lowered shares of Edible Garden from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, July 13th. Maxim Group decreased their price objective on Edible Garden to $45.00 and set a “buy” rating for the company in a report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Edible Garden has a consensus rating of “Hold” and a consensus price target of $45.00.

Edible Garden Stock Performance

Shares of Edible Garden stock opened at $3.23 on Friday. The company has a market capitalization of $387,600.00, a PE ratio of -0.00 and a beta of 1.70. The company has a 50-day simple moving average of $9.51 and a two-hundred day simple moving average of $95.76. Edible Garden has a one year low of $2.98 and a one year high of $1,250.96.

Insider Activity at Edible Garden

In related news, major shareholder Scott Wolinsky bought 3,333 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $8.55 per share, for a total transaction of $28,497.15. Following the purchase, the insider directly owned 21,111 shares of the company’s stock, valued at approximately $180,499.05. This trade represents a 18.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Financial Lp Hrt sold 11,948 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $4.50, for a total transaction of $53,766.00. Following the sale, the insider directly owned 7,162 shares in the company, valued at approximately $32,229. This represents a 62.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased a total of 15,927 shares of company stock valued at $133,332 over the last ninety days. 0.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 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 fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,150 shares of the company’s stock after acquiring an additional 86,150 shares during the period. Cetera Investment Advisers owned approximately 16.19% of Edible Garden worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 12.99% of the stock is currently owned by institutional investors and hedge funds.

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.