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

Stock analysts at StockNews.com initiated coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note issued to investors on Monday. The brokerage set a “sell” rating on the basic materials company’s stock.

Arcadia Biosciences Stock Down 12.4 %

Shares of RKDA opened at $2.97 on Monday. The company has a market capitalization of $4.05 million, a price-to-earnings ratio of -0.69 and a beta of 0.86. Arcadia Biosciences has a 52-week low of $1.85 and a 52-week high of $10.31. The stock has a 50 day moving average price of $4.15 and a 200 day moving average price of $4.13.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Arcadia Biosciences stock. Geode Capital Management LLC purchased a new stake in Arcadia Biosciences, Inc. (NASDAQ:RKDA) in the fourth quarter, according to its most recent Form 13F filing 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 about 0.90% of Arcadia Biosciences at the end of the most recent reporting period. Institutional investors and hedge funds own 17.73% of the company’s stock.

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.