Short Interest in Edible Garden AG Incorporated (NASDAQ:EDBL) Increases By 83.4%

Edible Garden AG Incorporated (NASDAQ:EDBL) was the target of a large increase in short interest in October. As of October 15th, there was short interest totaling 256,600 shares, an increase of 83.4% from the September 30th total of 139,900 shares. Approximately 8.8% of the shares of the stock are sold short. Based on an average daily volume of 275,000 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 275,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 8.8% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EDBL. Weiss Ratings reiterated a “sell (e+)” rating on shares of Edible Garden in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Edible Garden from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Edible Garden Stock Down 1.2%

Shares of NASDAQ EDBL opened at $1.59 on Monday. The firm’s 50-day moving average price is $1.83 and its 200-day moving average price is $2.30. The company has a current ratio of 1.49, a quick ratio of 1.14 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $4.64 million, a price-to-earnings ratio of -0.04 and a beta of 2.08. Edible Garden has a 12-month low of $1.52 and a 12-month high of $13.50.

Edible Garden (NASDAQ:EDBL) last announced its 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 business had revenue of $3.15 million for the quarter, compared to analysts’ expectations of $4.48 million. Edible Garden had a negative net margin of 101.53% and a negative return on equity of 460.61%.

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.