Insider Selling: Edible Garden (NASDAQ:EDBL) Major Shareholder Sells 537,670 Shares

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Financial Lp Hrt sold 537,670 shares of Edible Garden stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $0.10, for a total transaction of $53,767.00. Following the completion of the sale, the insider directly owned 322,311 shares of the company’s stock, valued at approximately $32,231.10. This trade represents a 62.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Monday, July 6th, Financial Lp Hrt acquired 49,552 shares of Edible Garden stock. The shares were bought at an average price of $0.12 per share, for a total transaction of $5,946.24.
• On Thursday, July 2nd, Financial Lp Hrt acquired 100,778 shares of Edible Garden stock. The shares were bought at an average cost of $0.13 per share, for a total transaction of $13,101.14.
• On Wednesday, July 1st, Financial Lp Hrt bought 266,482 shares of Edible Garden stock. The stock was purchased at an average price of $0.17 per share, with a total value of $45,301.94.

Edible Garden Price Performance

Shares of EDBL remained flat at $0.12 during trading hours on Thursday. The stock had a trading volume of 188,689,087 shares, compared to its average volume of 10,687,524. Edible Garden AG Incorporated has a 12 month low of $0.08 and a 12 month high of $27.80. The firm has a market cap of $634,520.00, a price-to-earnings ratio of -0.00 and a beta of 1.70. The business’s fifty day moving average is $0.26 and its 200 day moving average is $2.51.

Edible Garden (NASDAQ:EDBL) last posted its quarterly earnings results on Friday, May 15th. The company reported ($5.25) earnings per share for the quarter. The company had revenue of $3.34 million during the quarter.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EDBL. Maxim Group cut their target price on Edible Garden to $1.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Weiss Ratings raised shares of Edible Garden from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $1.00.

Hedge Funds Weigh In On Edible Garden

A hedge fund recently bought a new stake in Edible Garden stock. Armistice Capital LLC bought a new stake in Edible Garden AG Incorporated (NASDAQ:EDBL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned about 37.64% of Edible Garden at the end of the most recent reporting period. 12.99% of the stock is owned by institutional investors and hedge funds.

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.