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 report report published on Tuesday. The brokerage issued a sell rating on the basic materials company’s stock.

Other equities research analysts also recently issued reports about the company. Lake Street Capital upgraded Arcadia Biosciences to a strong-buy rating in a report on Tuesday, May 14th. HC Wainwright reduced their price target on Arcadia Biosciences from $10.00 to $6.00 and set a buy rating for the company in a research report on Thursday, May 23rd.

Arcadia Biosciences Stock Down 2.9 %

Shares of RKDA stock opened at $3.01 on Tuesday. Arcadia Biosciences has a fifty-two week low of $1.85 and a fifty-two week high of $5.60. The stock has a market cap of $4.09 million, a P/E ratio of -0.58 and a beta of 0.86. The business has a fifty day simple moving average of $2.75 and a 200-day simple moving average of $2.61.

Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings results on Thursday, May 9th. The basic materials company reported ($1.78) EPS for the quarter, beating the consensus estimate of ($2.52) by $0.74. The company had revenue of $1.26 million during the quarter, compared to analysts’ expectations 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 in the previous year, the business earned ($3.83) EPS. On average, sell-side analysts anticipate that Arcadia Biosciences will post -2.29 earnings per share for the current year.

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.