Edible Garden AG Incorporated (NASDAQ:EDBL) Shares Shorted: Short Interest Up 84.8% in October

Edible Garden AG Incorporated (NASDAQ:EDBL) was the recipient of a significant growth in short interest during 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 company’s stock are sold short. Based on an average trading volume of 191,753 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Ratings Changes

A number of analysts have commented on EDBL shares. Weiss Ratings lowered shares of Edible Garden from a “sell (e+)” rating to a “sell (e)” rating in a report on Tuesday, October 20th. Wall Street Zen lowered shares of Edible Garden from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Edible Garden has a consensus rating of “Hold” and a consensus price target of $45.00.

Edible Garden Stock Performance

EDBL stock opened at $0.74 on Friday. Edible Garden has a one year low of $0.69 and a one year high of $765.00. The firm’s 50 day moving average price is $1.19 and its 200-day moving average price is $49.77. The firm has a market cap of $1.01 million, a PE ratio of -0.00 and a beta of 1.74.

Edible Garden (NASDAQ:EDBL) last announced its quarterly earnings results on Friday, August 14th. The company reported ($18.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($11.70) by ($7.09). The firm had revenue of $3.55 million for the quarter, compared to analyst estimates of $3.38 million.

About Edible Garden

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.