Insider Selling: Edible Garden (NASDAQ:EDBL) Major Shareholder Sells $53,767.00 in Stock

Edible Garden AG Incorporated (NASDAQ:EDBL) major shareholder Financial Lp Hrt sold 537,670 shares of Edible Garden stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $0.10, for a total value of $53,767.00. Following the completion of the sale, the insider directly owned 322,311 shares of the company’s stock, valued at $32,231.10. The trade was a 62.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock 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 shares were purchased at an average price of $0.12 per share, with a total value of $5,946.24.
• On Thursday, July 2nd, Financial Lp Hrt bought 100,778 shares of Edible Garden stock. The stock was purchased at an average cost of $0.13 per share, for a total transaction of $13,101.14.
• On Wednesday, July 1st, Financial Lp Hrt bought 266,482 shares of Edible Garden stock. The stock was purchased at an average cost of $0.17 per share, for a total transaction of $45,301.94.

Edible Garden Stock Down 15.9%

NASDAQ:EDBL traded down $0.02 on Friday, hitting $0.10. The stock had a trading volume of 20,443,225 shares, compared to its average volume of 53,025,088. The business’s 50-day simple moving average is $0.25 and its two-hundred day simple moving average is $2.42. The stock has a market cap of $533,325.00, a price-to-earnings ratio of -0.00 and a beta of 1.70. Edible Garden AG Incorporated has a 52-week low of $0.08 and a 52-week high of $27.80.

Edible Garden shares are set to reverse split on the morning of Monday, July 13th. The 1-45 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, July 12th.

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 firm had revenue of $3.34 million for the quarter.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. 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. Maxim Group decreased their target price on Edible Garden to $1.00 and set a “buy” rating on the stock in a report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $1.00.

Institutional Investors Weigh In On Edible Garden

An institutional investor recently bought a new position in Edible Garden stock. Armistice Capital LLC acquired a new stake in Edible Garden AG Incorporated (NASDAQ:EDBL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 222,072 shares of the company’s stock, valued at approximately $135,000. Armistice Capital LLC owned approximately 37.64% of Edible Garden as of its most recent SEC filing. 12.99% of the stock is owned by institutional investors.

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.