Edible Garden (NASDAQ:EDBL) Trading Down 9% – Time to Sell?

Edible Garden AG Incorporated (NASDAQ:EDBL)’s stock price fell 9% on Wednesday . The company traded as low as $0.5601 and last traded at $0.5724. 306,639 shares were traded during mid-day trading, a decline of 89% from the average session volume of 2,897,465 shares. The stock had previously closed at $0.6288.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Edible Garden in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Edible Garden Stock Down 9.0%

The firm has a market capitalization of $2.94 million, a price-to-earnings ratio of -0.03 and a beta of 2.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.80 and a quick ratio of 0.51. The business has a fifty day moving average price of $0.99 and a two-hundred day moving average price of $1.66.

Edible Garden (NASDAQ:EDBL) last released 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). Edible Garden had a negative return on equity of 1,078.80% and a negative net margin of 115.44%.The firm had revenue of $2.82 million for the quarter, compared to analyst estimates of $3.88 million.

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.