Edible Garden AG Incorporated (NASDAQ:EDBL) Short Interest Up 112.0% in January

Edible Garden AG Incorporated (NASDAQ:EDBL) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 368,601 shares, an increase of 112.0% from the December 31st total of 173,836 shares. Approximately 7.2% of the shares of the company are short sold. Based on an average daily volume of 5,605,668 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 5,605,668 shares, the short-interest ratio is currently 0.1 days. Approximately 7.2% of the shares of the company are short sold.

Edible Garden Price Performance

NASDAQ:EDBL traded down $0.03 during trading hours on Friday, reaching $0.48. The company had a trading volume of 736,975 shares, compared to its average volume of 2,944,228. The company has a quick ratio of 0.51, a current ratio of 0.80 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average of $0.90 and a two-hundred day moving average of $1.57. Edible Garden has a one year low of $0.46 and a one year high of $7.75. The firm has a market capitalization of $2.49 million, a PE ratio of -0.02 and a beta of 2.13.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Edible Garden in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Edible Garden has a consensus rating of “Sell”.

About Edible Garden

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.