StockNews.com Initiates Coverage on Arcadia Biosciences (NASDAQ:RKDA)

Equities researchers at StockNews.com initiated coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a report issued on Friday. The brokerage set a “sell” rating on the basic materials company’s stock.

Arcadia Biosciences Stock Performance

NASDAQ:RKDA opened at $3.43 on Friday. The firm has a 50-day simple moving average of $4.80 and a two-hundred day simple moving average of $4.08. Arcadia Biosciences has a fifty-two week low of $1.85 and a fifty-two week high of $10.31. The firm has a market cap of $4.68 million, a P/E ratio of -0.80 and a beta of 0.86.

Hedge Funds Weigh In On Arcadia Biosciences

A hedge fund recently bought a new stake in Arcadia Biosciences stock. Geode Capital Management LLC purchased a new stake in shares of Arcadia Biosciences, Inc. (NASDAQ:RKDA) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,297 shares of the basic materials company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned approximately 0.90% of Arcadia Biosciences at the end of the most recent reporting period. 17.73% of the stock is currently owned by institutional investors and hedge funds.

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.