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Home Technology and Energy

Volatility Is Your Friend: Edible Garden AG Incorporated (EDBL) Is Hot Again

Edison Carroll Edison by Edison Carroll Edison
January 24, 2023
in Technology and Energy
0

Edible Garden AG Incorporated (NASDAQ:EDBL) does about 554.74K shares in volume on a normal day but saw 3538395 shares change hands in Monday trading. The company now has a market cap of 3.25M USD. Its current market price is $0.36, marking an increase of 1.60% compared to the previous close of $0.35. The 52 week high reached by this stock is $3.00 whilst the lowest price level in 52 weeks is $0.19. The script in recent trading has seen the stock touch a high of $0.498 and a low of $0.3399.

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Edible Garden AG Incorporated (EDBL) has a 20-day trading average at $0.2547 and the current price is -88.16% off the 52-week high compared with 85.72% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.2941. If we look at the stock’s price movements over the week, volatility stands at 26.24%, which decreases to 20.01% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 65.21 to suggest the stock is neutral.

1 analysts observing the Edible Garden AG Incorporated (EDBL) stock have set the 12-month price targets for the company’s shares at between $3.00 and $3.00. The consensus objective for the share price is $3.00, suggesting that the stock has a potential upside of 88.0% over the period. The median price target is 88.0% away from the current levels at $3.00.

FactSet Research has provided data showing that 1 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 1 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Moderate Buy the stock.

The current price level is 43.47%, 19.77%, and -62.08% away from its SMA20, SMA50, and SMA200 respectively, with the EDBL price moving below the 50-day SMA on January 23. Edible Garden AG Incorporated (EDBL) stock is up 37.58% over the week and 72.71% over the past month. Its price is 69.10% year-to-date.

The company’s next earnings report is expected on 05/31/2023, with forecasts estimating quarterly EPS at -$0.26 and -$1.68 for whole year. Expected sales for next quarter are $3.19 million, which analysts say will come at $11.51 million for the current fiscal year and next year at $13.03 million. In addition, estimates put the company’s current quarterly revenue at an average of $2.59 million.

Its 12-month price target is $3.00. To reach the target analysts have set, the stock logically needs to grow 88.0 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $3.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $3.00.

Outstanding shares total 8.71M with insiders holding 60.84% of the shares and institutional holders owning 2.60% of the company’s common stock. The company has a return on investment of -492.10%. Price to sales ratio is 0.29.

Tags: EDBLEDBL stockEdible Garden AG IncorporatedNASDAQ:EDBL
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