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Edible Garden AG Inc’s (NASDAQ: EDBL) Stock’s Potential for Future Price Increase

In the latest trading session, 0.8 million Edible Garden AG Inc (NASDAQ:EDBL) shares changed hands as the company’s beta touched 2.50. With the company’s most recent per share price at $0.50 changing hands around $0.02 or 3.52% at last look, the market valuation stands at $2.83M. EDBL’s current price is a discount, trading about -928.0% off its 52-week high of $5.14. The share price had its 52-week low at $0.38, which suggests the last value was 24.0% up since then. When we look at Edible Garden AG Inc’s average trading volume, we note the 10-day average is 52580.0 shares, with the 3-month average coming to 51.34.

Edible Garden AG Inc (NASDAQ:EDBL) trade information

Instantly EDBL is in green as seen in intraday trades today. With action 10.40%, the performance over the past five days has been green. The jump to weekly highs of 0.5480 added 3.52% to the stock’s daily price. The company’s shares are showing year-to-date downside of -1.29%, with the 5-day performance at 10.40% in the green. However, in the 30-day time frame, Edible Garden AG Inc (NASDAQ:EDBL) is -3.51% down. Looking at the short shares, we see there were 57310.0 shares sold at short interest cover period of 0.44 days.

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Edible Garden AG Inc (EDBL) estimates and forecasts

Year-over-year growth is forecast to reach 13.80% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $3.07 million. 1 analysts are of the opinion that Edible Garden AG Inc’s revenue for the quarter ending Dec 2023 will be $4.25 million. The company’s revenue for the corresponding quarters a year ago was $2.75 million and $3.08 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 11.50%. The estimates for the next quarter sales put growth at 38.20%.

The 2024 estimates are for Edible Garden AG Inc earnings to increase by 92.67%.

EDBL Dividends

Edible Garden AG Inc is expected to release its next quarterly earnings report in March.

Edible Garden AG Inc (NASDAQ:EDBL)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 4.52% of Edible Garden AG Inc shares while 7.68% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 8.04%. There are 7.68% institutions holding the Edible Garden AG Inc stock share, with Citadel Advisors Llc the top institutional holder. As of Sep 29, 2023, the company held 1.02% of the shares, roughly 58388.0 EDBL shares worth $28645.0.

Virtu Financial LLC holds the second largest percentage of outstanding shares, with 0.77% or 44218.0 shares worth $21693.0 as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. With 35337.0 shares estimated at $17336.0 under it, the former controlled 0.62% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.23% of the shares, roughly 13051.0 shares worth around $6402.0.

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