Is Edible Garden AG Incorporated (EDBL) positioned for future growth?

Edible Garden AG Incorporated (NASDAQ: EDBL) stock jumped 12.74% on Friday to $0.35 against a previous-day closing price of $0.31. With 0.74 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.54 million shares. During the session, the Farm Products company that operates in wider Consumer Defensive sector, reached to the highest price of $0.3701 whereas the lowest price it dropped to was $0.2791. The 52-week range on EDBL shows that it touched its highest point at $3.00 and its lowest point at $0.19 during that stretch. It currently has a 1-year price target of $3.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EDBL was up-trending over the past week, with a rise of 36.15%, but this was up by 55.68% over a month. Three-month performance dropped to -41.31% while six-month performance fell -70.63%. A look at the trailing 12-month EPS for EDBL yields -1.46 with Next year EPS estimates of -0.49. For the next quarter, that number is -0.21. This implies an EPS growth rate of -49.20% for this year and 70.30% for next year.

Float and Shares Shorts:

At present, 8.71 million EDBL shares are outstanding with a float of 4.59 million shares on hand for trading. On Oct 13, 2022, short shares totaled 22350.0, which was 0.26% higher than short shares on Sep 14, 2022. In addition to Mr. James E. Kras as the firm’s CEO, Pres & Director, Mr. Michael C. James serves as its CFO, Treasurer, Sec. & Director.

Institutional Ownership:

Through their ownership of 2.60% of EDBL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 36.02% of EDBL, in contrast to — held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in EDBL with 1.69% of the stake, Bard Associates, Inc. holds 180,875 shares worth 180,875. A second-largest stockholder of EDBL, Citadel Securities LLC, holds 22,634 shares, controlling over 0.21% of the firm’s shares. Warberg Asset Management LLC is the third largest shareholder in EDBL, holding 20,000 shares or 0.19% stake.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EDBL since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With EDBL analysts setting a high price target of $3.00 and a low target of $3.00, the average target price over the next 12 months is $3.00. Based on these targets, EDBL could surge 757.14% to reach the target high and rise by 757.14% to reach the target low. Reaching the average price target will result in a growth of 757.14% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. Analysts have provided yearly estimates in a range of -$1.65 being high and -$1.65 being low. For EDBL, this leads to a yearly average estimate of -$1.65. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Edible Garden AG Incorporated surprised analysts by $0.02 when it reported -$0.24 EPS against a consensus estimate of -$0.26. Based on analyst estimates, the high estimate for the next quarter is -$0.21 and the low estimate is -$0.21. The average estimate for the next quarter is thus -$0.21.

Summary of Insider Activity:

Insiders traded EDBL stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 467,520 while 0 shares were sold.

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