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

StockNews.com assumed coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a report published on Monday. The brokerage issued a sell rating on the basic materials company’s stock.

RKDA has been the subject of a number of other research reports. Lake Street Capital raised Arcadia Biosciences to a strong-buy rating in a research note on Tuesday, May 14th. HC Wainwright cut their price objective on shares of Arcadia Biosciences from $10.00 to $6.00 and set a buy rating for the company in a report on Thursday, May 23rd.

Arcadia Biosciences Stock Up 3.0 %

NASDAQ RKDA opened at $2.73 on Monday. The stock’s 50-day moving average price is $2.94 and its 200-day moving average price is $2.65. The company has a market capitalization of $3.71 million, a P/E ratio of -0.53 and a beta of 0.86. Arcadia Biosciences has a 52 week low of $1.85 and a 52 week high of $4.79.

Arcadia Biosciences (NASDAQ:RKDA) last issued its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.49). The firm had revenue of $1.31 million for the quarter, compared to analysts’ expectations of $0.95 million. Arcadia Biosciences had a negative net margin of 127.29% and a negative return on equity of 56.06%. During the same period in the prior year, the firm earned ($2.64) EPS. Research analysts anticipate that Arcadia Biosciences will post -2.29 EPS 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.