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Are Investors Inclined To Sell Their Edible Garden AG Incorporated (NASDAQ: EDBL) Holdings?

Edible Garden AG Incorporated (NASDAQ:EDBL) traded at $0.37 at close of the session on Tuesday, 01/24/23, made an upward move of 2.79% on its previous day’s price.

Looking at the stock we see that its previous close was $0.36 with the day’s price range being $0.3303 – $0.43. In terms of its 52-week price range, EDBL has a high of $3.00 and a low of $0.19. The company’s stock has gained about 72.09% over that past 30 days.

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Edible Garden AG Incorporated has a market cap of $3.34 million. Estimates by analysts give the company expected earnings per share (EPS) of -$0.26, with the EPS growth for the year raised at -$1.68 for 2022 and -$0.54 for next year.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $2.59 million, with a low of $2.59 million and a high of $2.59 million.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term.

Based on estimates by 1 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the Edible Garden AG Incorporated (EDBL) stock as a Hold, while 1 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 43.33% off its SMA20 and 24.12% from its 50-day simple moving average. The RSI (14) is pointing at 66.59 while the volatility over the past week is 30.69% and jumps to 20.63% over the past one month.

Coming back to Edible Garden AG Incorporated (NASDAQ:EDBL), we note that the average 3-month trading volume was 611.37K, while that of the preceding 10-day period stands at 0.82 million. Current shares outstanding are 8.71 million.

The insiders hold 31.90% of the company’s shares while institutions hold 2.50%. The data shows that short shares as of Oct 13, 2022, stood at 22350.0 at a short ratio of 0.36. This represents a 0.26% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 0.11 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 73.81% up in year-to-date price movement.

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