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

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

Separately, HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Arcadia Biosciences in a research note on Wednesday, August 21st.

Arcadia Biosciences Stock Performance

NASDAQ:RKDA opened at $2.79 on Thursday. The firm has a market capitalization of $3.79 million, a price-to-earnings ratio of -0.54 and a beta of 1.34. Arcadia Biosciences has a 52-week low of $1.85 and a 52-week high of $4.19. The stock has a fifty day moving average of $2.87 and a 200 day moving average of $2.67.

Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.49). The business had revenue of $1.31 million for the quarter, compared to the consensus estimate of $0.95 million. Arcadia Biosciences had a negative net margin of 127.29% and a negative return on equity of 57.51%. During the same period in the prior year, the business posted ($2.64) EPS. Equities analysts forecast that Arcadia Biosciences will post -1.7 earnings per share for the current fiscal year.

Arcadia Biosciences Company Profile

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.