The stock of Edible Garden AG Incorporated (NASDAQ:EDBL) last traded at $0.21, down -8.62% from the previous session.
Data from the available sources indicates that Edible Garden AG Incorporated (NASDAQ:EDBL) is covered by 1 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $3.00 and a low of $3.00, we find $3.00. Given the previous closing price of $0.23, this indicates a potential upside of 1204.35 percent. EDBL stock price is now -45.85% away from the 50-day moving average and -78.88% away from the 200-day moving average. The market capitalization of the company currently stands at $2.30M.
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In total, 0 analysts have assigned it a hold rating, and 1 have given it a buy rating. Brokers who have rated the stock have averaged $3.00 as their price target over the next twelve months.
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In other news, JAMES MICHAEL C, Chief Financial Officer bought 1,000 shares of the company’s stock on Sep 14. The stock was bought for $880 at an average price of $0.88. Upon completion of the transaction, the Chief Financial Officer now directly owns 1,592,000 shares in the company, valued at $0.33 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 14, President and CEO Kras James E. bought 875 shares of the business’s stock. A total of $822 was incurred on buying the stock at an average price of $0.94. This leaves the insider owning 1,387,940 shares of the company worth $0.29 million. A total of 31.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in EDBL stock. A new stake in Edible Garden AG Incorporated shares was purchased by CITADEL ADVISORS LLC during the first quarter worth $5,000. HRT FINANCIAL LP invested $3,000 in shares of EDBL during the first quarter. In total, there are 5 active investors with 2.50% ownership of the company’s stock.
With an opening price of $0.2000 on Friday morning, Edible Garden AG Incorporated (NASDAQ: EDBL) set off the trading day. During the past 12 months, Edible Garden AG Incorporated has had a low of $0.19 and a high of $3.00. The fifty day moving average price for EDBL is $0.3802 and a two-hundred day moving average price translates $0.9895 for the stock.
The latest earnings results from Edible Garden AG Incorporated (NASDAQ: EDBL) was released for Jun, 2022. The company reported revenue of $2.75 million for the quarter, compared to $2.45 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 12.55 percent. For the current quarter, analysts expect EDBL to generate $2.59M in revenue.
Edible Garden AG Incorporated(EDBL) Company Profile
Edible Garden AG Incorporated and its subsidiaries operate as a controlled environment agriculture farming company. It offers various products, including individually potted, live herbs, cut single-herb clamshells, specialty herb items, various types of lettuce, hydro basil, bulk basil, and vegan protein powder. The company sells its products to various regional and national supermarkets. Edible Garden AG Incorporated was founded in 2020 and is based in Belvidere, New Jersey.
