Insider Buying: Edible Garden (NASDAQ:EDBL) Major Shareholder Acquires $28,500.00 in Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Scott Wolinsky bought 150,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $0.19 per share, with a total value of $28,500.00. Following the transaction, the insider directly owned 950,000 shares in the company, valued at approximately $180,500. This represents a 18.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Scott Wolinsky also recently made the following trade(s):

• On Wednesday, May 27th, Scott Wolinsky bought 150,000 shares of Edible Garden stock. The stock was purchased at an average cost of $0.27 per share, with a total value of $40,500.00.

Edible Garden Stock Performance

Shares of NASDAQ:EDBL opened at $0.21 on Monday. Edible Garden AG Incorporated has a 52-week low of $0.18 and a 52-week high of $32.10. The firm has a market capitalization of $1.14 million, a P/E ratio of 0.00 and a beta of 1.69. The stock has a 50 day moving average price of $0.60 and a 200-day moving average price of $4.47.

Edible Garden (NASDAQ:EDBL) last announced its earnings results on Friday, May 15th. The company reported ($5.25) earnings per share (EPS) for the quarter. Edible Garden had a negative return on equity of 1,078.80% and a negative net margin of 131.59%.The firm had revenue of $3.34 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Edible Garden in a research report on Monday, April 20th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Trading of Edible Garden

A hedge fund recently bought a new stake in Edible Garden stock. Armistice Capital LLC purchased a new position in Edible Garden AG Incorporated (NASDAQ:EDBL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned about 37.64% of Edible Garden as of its most recent SEC filing. Institutional investors own 12.99% of the company’s stock.

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.