Arcadia Biosciences (NASDAQ:RKDA) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note released on Sunday morning. The firm issued a sell rating on the basic materials company’s stock.

Separately, HC Wainwright reissued a buy rating and set a $10.00 price objective on shares of Arcadia Biosciences in a report on Friday, April 5th.

Arcadia Biosciences Stock Up 5.6 %

Shares of RKDA opened at $2.06 on Friday. The business’s 50-day moving average price is $2.43 and its 200-day moving average price is $2.76. Arcadia Biosciences has a twelve month low of $1.85 and a twelve month high of $7.30. The stock has a market cap of $2.80 million, a PE ratio of -0.14 and a beta of 0.60.

Arcadia Biosciences (NASDAQ:RKDA) last issued its quarterly earnings data on Thursday, March 28th. The basic materials company reported ($2.48) EPS for the quarter, topping the consensus estimate of ($2.68) by $0.20. Arcadia Biosciences had a negative return on equity of 81.56% and a negative net margin of 246.80%. The company had revenue of $1.17 million during the quarter, compared to analyst estimates of $1.80 million. Analysts expect that Arcadia Biosciences will post -5.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RKDA. Virtu Financial LLC purchased a new stake in Arcadia Biosciences in the fourth quarter worth approximately $34,000. Vanguard Group Inc. purchased a new stake in Arcadia Biosciences in the fourth quarter worth approximately $44,000. Millennium Management LLC purchased a new stake in Arcadia Biosciences in the second quarter worth approximately $25,000. Jane Street Group LLC boosted its stake in Arcadia Biosciences by 215.8% in the first quarter. Jane Street Group LLC now owns 36,458 shares of the basic materials company’s stock worth $51,000 after buying an additional 24,913 shares in the last quarter. Finally, Sabby Management LLC purchased a new stake in Arcadia Biosciences in the first quarter worth approximately $395,000. Hedge funds and other institutional investors own 17.73% of the company’s stock.

Arcadia Biosciences Company Profile

Arcadia Biosciences, Inc produces and markets plant-based food and beverage products in the United States. The company develops crop improvements primarily in wheat to enhance farm economics by improving the performance of crops in the field, as well as their value as food ingredients. Its food, beverage, and body case products include GoodWheat, Zola coconut water, ProVault topical pain relief, and SoulSpring.