Arcadia Biosciences, Inc. (NASDAQ:RKDA) Short Interest Down 13.3% in June

Arcadia Biosciences, Inc. (NASDAQ:RKDA) was the recipient of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 62,700 shares, a drop of 13.3% from the May 31st total of 72,300 shares. Currently, 10.4% of the shares of the company are sold short. Based on an average trading volume of 27,500 shares, the days-to-cover ratio is currently 2.3 days.

Arcadia Biosciences Stock Performance

NASDAQ RKDA opened at $3.15 on Friday. Arcadia Biosciences has a twelve month low of $1.85 and a twelve month high of $5.60. The stock has a market cap of $4.28 million, a PE ratio of -0.61 and a beta of 0.70. The firm has a 50-day simple moving average of $2.71 and a 200 day simple moving average of $2.61.

Arcadia Biosciences (NASDAQ:RKDA) last announced its quarterly earnings data on Thursday, May 9th. The basic materials company reported ($1.78) EPS for the quarter, topping analysts’ consensus estimates of ($2.52) by $0.74. The company had revenue of $1.26 million during the quarter, compared to the consensus estimate of $1.20 million. Arcadia Biosciences had a negative return on equity of 84.27% and a negative net margin of 129.74%. During the same quarter last year, the company earned ($3.83) EPS. Research analysts forecast that Arcadia Biosciences will post -2.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RKDA has been the topic of a number of recent analyst reports. StockNews.com began coverage on Arcadia Biosciences in a research note on Monday, June 24th. They issued a “sell” rating on the stock. Lake Street Capital upgraded Arcadia Biosciences to a “strong-buy” rating in a report on Tuesday, May 14th. Finally, HC Wainwright dropped their target price on shares of Arcadia Biosciences from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd.

About Arcadia Biosciences

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.