Edible Garden AG Incorporated (NASDAQ:EDBL) Sees Large Drop in Short Interest

Edible Garden AG Incorporated (NASDAQ:EDBL) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 916,300 shares, a decrease of 17.5% from the August 15th total of 1,110,000 shares. Currently, 39.3% of the shares of the stock are sold short. Based on an average trading volume of 2,590,000 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Edible Garden

An institutional investor recently bought a new position in Edible Garden stock. Sabby Management LLC purchased a new stake in shares of Edible Garden AG Incorporated (NASDAQ:EDBL) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 42,500 shares of the company’s stock, valued at approximately $98,000. Sabby Management LLC owned about 1.74% of Edible Garden as of its most recent SEC filing. Hedge funds and other institutional investors own 11.50% of the company’s stock.

Edible Garden Trading Down 4.2 %

Shares of NASDAQ:EDBL traded down $0.04 on Tuesday, reaching $0.80. 179,701 shares of the company traded hands, compared to its average volume of 1,278,550. The company has a quick ratio of 2.22, a current ratio of 2.47 and a debt-to-equity ratio of 1.16. The business’s 50-day simple moving average is $1.25 and its 200 day simple moving average is $1.68. Edible Garden has a 52 week low of $0.76 and a 52 week high of $28.20.

Edible Garden (NASDAQ:EDBL) last announced its earnings results on Thursday, August 10th. The company reported ($0.24) EPS for the quarter. The business had revenue of $4.22 million for the quarter. Edible Garden had a negative net margin of 68.67% and a negative return on equity of 639.04%.

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.