Edible Garden AG Incorporated (NASDAQ:EDBL) Short Interest Up 338.3% in September

Edible Garden AG Incorporated (NASDAQ:EDBL) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 217,400 shares, an increase of 338.3% from the August 31st total of 49,600 shares. Approximately 7.5% of the shares of the company are sold short. Based on an average trading volume of 160,100 shares, the days-to-cover ratio is currently 1.4 days. Based on an average trading volume of 160,100 shares, the days-to-cover ratio is currently 1.4 days. Approximately 7.5% of the shares of the company are sold short.

Edible Garden Stock Performance

Shares of NASDAQ:EDBL opened at $1.89 on Friday. The company’s 50 day moving average price is $1.99 and its two-hundred day moving average price is $2.40. Edible Garden has a 12-month low of $1.68 and a 12-month high of $13.50. The firm has a market cap of $5.52 million, a PE ratio of -0.05 and a beta of 2.07. The company has a quick ratio of 1.14, a current ratio of 1.49 and a debt-to-equity ratio of 0.24.

Edible Garden (NASDAQ:EDBL) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($6.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($5.84). The firm had revenue of $3.15 million for the quarter, compared to analyst estimates of $4.48 million. Edible Garden had a negative return on equity of 460.61% and a negative net margin of 101.53%.

Analysts Set New Price Targets

EDBL has been the topic of several research analyst reports. Wall Street Zen cut shares of Edible Garden from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Edible Garden in a report on Saturday, September 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Edible Garden presently has a consensus rating of “Sell”.

Edible Garden Company Profile

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.