Edible Garden AG Incorporated (NASDAQ:EDBL) Short Interest Update

Edible Garden AG Incorporated (NASDAQ:EDBL) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totaling 2,040,751 shares, a growth of 2,308.2% from the April 30th total of 84,740 shares. Currently, 37.4% of the company’s stock are sold short. Based on an average daily volume of 11,907,153 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Edible Garden

An institutional investor recently raised its position in Edible Garden stock. Cetera Investment Advisers boosted its holdings in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) by 861.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. 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 approximately 16.19% of Edible Garden worth $58,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 12.99% of the company’s stock.

Edible Garden Price Performance

EDBL traded up $0.01 during midday trading on Wednesday, hitting $0.29. 1,433,478 shares of the company’s stock traded hands, compared to its average volume of 8,023,910. The stock’s fifty day simple moving average is $0.82 and its 200-day simple moving average is $5.12. Edible Garden has a one year low of $0.23 and a one year high of $41.50.

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

Analyst Upgrades and Downgrades

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

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.