The 36-month beta value for EDBL is at 1.89. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for EDBL is 3.13M, and currently, shorts hold a 2.64% of that float. The average trading volume for EDBL on September 30, 2024 was 496.32K shares.
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EDBL) stock’s latest price update
Edible Garden AG Inc (NASDAQ: EDBL) has experienced a decline in its stock price by -37.66 compared to its previous closing price of 0.47. However, the company has seen a fall of -65.97% in its stock price over the last five trading days. globenewswire.com reported 2024-09-27 that BELVIDERE, N.J., Sept. 27, 2024 (GLOBE NEWSWIRE) — Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today announced the pricing of a public offering of an aggregate of 15,700,650 shares of its common stock (or pre-funded warrants in lieu thereof), Class A warrants to purchase up to 15,700,650 shares of common stock, and Class B warrants to purchase up to 15,700,650 shares of common stock, at a combined public offering price of $$0.36 per share (or $0.35 per pre-funded warrant) and accompanying warrants. The warrants will have an exercise price of $0.36 per share, will be exercisable immediately upon issuance. The Class A warrants will expire on the fifth anniversary of the original issuance date, and the Class B warrants will expire on the eighteen-month anniversary of the original issuance date. The closing of the offering is expected to occur on or about September 30, 2024, subject to the satisfaction of customary closing conditions. Gross proceeds, before deducting placement agent fees and offering expenses, are expected to be approximately $5.65 million.
EDBL’s Market Performance
EDBL’s stock has fallen by -65.97% in the past week, with a monthly drop of -74.78% and a quarterly drop of -77.52%. The volatility ratio for the week is 33.98% while the volatility levels for the last 30 days are 14.90% for Edible Garden AG Inc. The simple moving average for the past 20 days is -68.16% for EDBL’s stock, with a -94.14% simple moving average for the past 200 days.
EDBL Trading at -73.67% from the 50-Day Moving Average
After a stumble in the market that brought EDBL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -98.39% of loss for the given period.
Volatility was left at 14.90%, however, over the last 30 days, the volatility rate increased by 33.98%, as shares sank -74.56% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -78.99% lower at present.
During the last 5 trading sessions, EDBL fell by -65.97%, which changed the moving average for the period of 200-days by -97.10% in comparison to the 20-day moving average, which settled at $0.8683. In addition, Edible Garden AG Inc saw -97.12% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at EDBL starting from UBS Group AG, who purchase 1,005 shares at the price of $6.07 back on Apr 25 ’24. After this action, UBS Group AG now owns 35,077 shares of Edible Garden AG Inc, valued at $6,105 using the latest closing price.
UBS Group AG, the 10% Owner of Edible Garden AG Inc, sale 30,056 shares at $5.43 during a trade that took place back on Apr 25 ’24, which means that UBS Group AG is holding 5,025 shares at $163,307 based on the most recent closing price.
Stock Fundamentals for EDBL
Current profitability levels for the company are sitting at:
- -0.66 for the present operating margin
- 0.13 for the gross margin
The net margin for Edible Garden AG Inc stands at -0.85. The total capital return value is set at -7.67. Equity return is now at value -603.21, with -127.87 for asset returns.
Based on Edible Garden AG Inc (EDBL), the company’s capital structure generated 0.92 points at debt to capital in total, while cash flow to debt ratio is standing at -1.52. The debt to equity ratio resting at 11.06. The interest coverage ratio of the stock is -18.11.
Currently, EBITDA for the company is -7.61 million with net debt to EBITDA at -0.4. When we switch over and look at the enterprise to sales, we see a ratio of 0.3. The receivables turnover for the company is 4.8for trailing twelve months and the total asset turnover is 1.49. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.73.
Conclusion
In conclusion, Edible Garden AG Inc (EDBL) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
