Edible Garden (NASDAQ:EDBL) Announces Earnings Results

Edible Garden (NASDAQ:EDBL) released its quarterly earnings data on Friday. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.87), Zacks reports. Edible Garden had a negative return on equity of 460.61% and a negative net margin of 101.53%.The business had revenue of $2.82 million for the quarter, compared to analyst estimates of $3.88 million.

Edible Garden Stock Performance

Edible Garden stock traded down $0.03 during trading hours on Friday, reaching $1.31. 53,807 shares of the stock were exchanged, compared to its average volume of 111,390. Edible Garden has a 52-week low of $1.30 and a 52-week high of $13.50. The stock has a market cap of $3.83 million, a P/E ratio of -0.04 and a beta of 2.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.14 and a current ratio of 1.49. The firm’s 50 day moving average is $1.76 and its 200 day moving average is $2.27.

Analyst Ratings Changes

A number of equities analysts recently issued reports on EDBL shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edible Garden in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Edible Garden from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Edible Garden presently has a consensus rating of “Sell”.

About Edible Garden

Edible Garden AG Incorporated, together with its subsidiaries, operate as a controlled environment agriculture farming company. It offers various packaged products, including cilantro, rosemary, mint, thyme, oregano, bay leaves, chives, poultry mix, sage, dill, buttercrunch living lettuce, basil, living butterhead lettuce, basil, parsley, arugula spring mix, baby arugula blend, baby romaine, and crisp ranch and Caesar salad kits.