Edible Garden (NASDAQ:EDBL) Major Shareholder Financial Lp Hrt Buys 100,778 Shares

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Financial Lp Hrt purchased 100,778 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were bought at an average price of $0.13 per share, with a total value of $13,101.14. Following the completion of the transaction, the insider owned 810,429 shares of the company’s stock, valued at approximately $105,355.77. The trade was a 14.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 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 stock was bought at an average price of $0.12 per share, for a total transaction of $5,946.24.
• On Wednesday, July 1st, Financial Lp Hrt acquired 266,482 shares of Edible Garden stock. The shares were bought at an average cost of $0.17 per share, with a total value of $45,301.94.

Edible Garden Stock Performance

NASDAQ:EDBL opened at $0.09 on Wednesday. Edible Garden AG Incorporated has a fifty-two week low of $0.08 and a fifty-two week high of $27.80. The company has a 50 day moving average price of $0.27 and a 200 day moving average price of $2.59. The stock has a market capitalization of $479,719.00, a P/E ratio of -0.00 and a beta of 1.70.

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. The business had revenue of $3.34 million during the quarter.

Institutional Trading of Edible Garden

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Maxim Group decreased their target price on Edible Garden to $1.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. Weiss Ratings upgraded shares of Edible Garden from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $1.00.

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.