Arcadia Biosciences (NASDAQ:RKDA) Now Covered by Analysts at StockNews.com

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

Separately, HC Wainwright decreased their price objective on shares of Arcadia Biosciences from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, August 26th.

Arcadia Biosciences Trading Down 4.0 %

Shares of RKDA opened at $0.30 on Monday. The company has a market cap of $7.47 million, a price-to-earnings ratio of -0.33 and a beta of 0.14. Arcadia Biosciences has a 1-year low of $0.30 and a 1-year high of $2.66. The company’s fifty day simple moving average is $0.47 and its 200 day simple moving average is $0.83.

Hedge Funds Weigh In On Arcadia Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Armistice Capital LLC acquired a new position in shares of Arcadia Biosciences in the third quarter valued at $850,000. Millennium Management LLC bought a new stake in shares of Arcadia Biosciences in the second quarter valued at about $25,000. Renaissance Technologies LLC boosted its position in shares of Arcadia Biosciences by 66.5% in the second quarter. Renaissance Technologies LLC now owns 129,500 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 51,700 shares during the period. Jane Street Group LLC boosted its position in shares of Arcadia Biosciences by 215.8% in the first quarter. Jane Street Group LLC now owns 36,458 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 24,913 shares during the period. Finally, State Street Corp boosted its position in shares of Arcadia Biosciences by 76.7% in the first quarter. State Street Corp now owns 99,300 shares of the basic materials company’s stock valued at $139,000 after acquiring an additional 43,100 shares during the period. 7.64% of the stock is currently owned by institutional investors and hedge funds.

About Arcadia Biosciences

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Arcadia Biosciences, Inc produces and markets plant-based health and wellness 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, health and wellness products, and their viability for industrial applications.

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