Edible Garden (NASDAQ:EDBL) Trading Down 4.2% – Here’s What Happened

Shares of Edible Garden AG Incorporated (NASDAQ:EDBL) traded down 4.2% during trading on Tuesday . The company traded as low as $0.4810 and last traded at $0.5449. 282,808 shares were traded during trading, an increase of 113% from the average session volume of 132,466 shares. The stock had previously closed at $0.5690.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Edible Garden in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Edible Garden Trading Down 4.2%

The firm has a market capitalization of $2.80 million, a PE ratio of -0.03 and a beta of 2.08. The company’s 50-day moving average price is $1.27 and its 200-day moving average price is $1.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.51 and a current ratio of 0.80.

Edible Garden (NASDAQ:EDBL) last posted its earnings results on Friday, November 14th. The company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.87). The firm had revenue of $2.82 million for the quarter, compared to analyst estimates of $3.88 million. Edible Garden had a negative return on equity of 1,078.80% and a negative net margin of 115.44%.

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.