Arcadia Biosciences, Inc. (NASDAQ:RKDA) Short Interest Down 13.3% in September

Arcadia Biosciences, Inc. (NASDAQ:RKDA) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 26,100 shares, a decline of 13.3% from the August 31st total of 30,100 shares. Based on an average trading volume of 8,700 shares, the days-to-cover ratio is presently 3.0 days. Currently, 4.3% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

RKDA has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Arcadia Biosciences in a research report on Wednesday, August 21st. StockNews.com began coverage on shares of Arcadia Biosciences in a report on Saturday. They issued a “sell” rating for the company.

Arcadia Biosciences Price Performance

NASDAQ:RKDA opened at $2.72 on Friday. The stock has a market capitalization of $3.70 million, a PE ratio of -0.53 and a beta of 1.34. Arcadia Biosciences has a fifty-two week low of $1.85 and a fifty-two week high of $3.93. The business’s 50-day simple moving average is $2.82 and its 200-day simple moving average is $2.68.

Arcadia Biosciences (NASDAQ:RKDA) last announced its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.49). The firm had revenue of $1.31 million for the quarter, compared to analyst estimates 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 previous year, the business posted ($2.64) earnings per share. On average, research analysts expect that Arcadia Biosciences will post -1.7 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.