Insider Buying: Edible Garden (NASDAQ:EDBL) Major Shareholder Purchases $40,500.00 in Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Scott Wolinsky purchased 150,000 shares of Edible Garden stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average cost of $0.27 per share, with a total value of $40,500.00. Following the transaction, the insider directly owned 1,700,000 shares in the company, valued at approximately $459,000. The trade was a 9.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, June 5th, Scott Wolinsky purchased 150,000 shares of Edible Garden stock. The shares were acquired at an average cost of $0.19 per share, with a total value of $28,500.00.

Edible Garden Stock Down 2.8%

NASDAQ EDBL opened at $0.21 on Friday. 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 company has a 50-day moving average price of $0.60 and a 200-day moving average price of $4.52.

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

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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.com, Edible Garden currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Edible Garden

A hedge fund recently raised its stake in Edible Garden stock. Cetera Investment Advisers increased its position in Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,150 shares of the company’s stock after acquiring an additional 86,150 shares during the quarter. Cetera Investment Advisers owned about 16.19% of Edible Garden worth $58,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.