Edible Garden (NASDAQ:EDBL) Upgraded at Wall Street Zen

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

Several other brokerages also recently commented on EDBL. Maxim Group reduced their target price on Edible Garden to $45.00 and set a “buy” rating for the company in a report on Monday, June 15th. Weiss Ratings cut Edible Garden from a “sell (e+)” rating to a “sell (e)” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.00.

Edible Garden Stock Up 10.2%

EDBL opened at $3.56 on Friday. The firm has a market cap of $427,200.00, a PE ratio of -0.00 and a beta of 1.70. The business has a fifty day simple moving average of $9.28 and a 200-day simple moving average of $92.93. Edible Garden has a fifty-two week low of $2.98 and a fifty-two week high of $1,250.96.

Insider Buying and Selling at Edible Garden

In other Edible Garden news, major shareholder Scott Wolinsky purchased 3,333 shares of the stock in a transaction dated Friday, June 5th. The shares were acquired at an average price of $8.55 per share, for a total transaction of $28,497.15. Following the completion of the acquisition, the insider owned 21,111 shares of the company’s stock, valued at $180,499.05. This represents a 18.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Financial Lp Hrt sold 11,948 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $4.50, for a total value of $53,766.00. Following the transaction, the insider directly owned 7,162 shares in the company, valued at $32,229. The trade was a 62.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders bought 15,927 shares of company stock valued at $133,332. 0.84% of the stock is currently owned by insiders.

Institutional Trading of Edible Garden

A hedge fund recently raised its position in Edible Garden stock. Cetera Investment Advisers raised its stake in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,150 shares of the company’s stock after buying an additional 86,150 shares during the period. Cetera Investment Advisers owned about 16.19% of Edible Garden worth $58,000 as of its most recent SEC filing. 12.99% of the stock is currently owned by hedge funds and other institutional investors.

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.