Arcadia Biosciences (NASDAQ:RKDA) Receives New Coverage from Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Arcadia Biosciences (NASDAQ:RKDAGet Free Report) in a report issued on Friday. The firm set a “sell” rating on the basic materials company’s stock.

Arcadia Biosciences Trading Down 0.4 %

Shares of RKDA opened at $2.44 on Friday. The company has a market capitalization of $2.71 million, a price-to-earnings ratio of -0.13 and a beta of 0.72. The stock has a 50 day moving average of $2.77 and a 200 day moving average of $3.32. Arcadia Biosciences has a 12 month low of $2.33 and a 12 month high of $18.94.

Arcadia Biosciences (NASDAQ:RKDAGet Free Report) last issued its quarterly earnings results on Thursday, November 9th. The basic materials company reported ($1.83) EPS for the quarter, beating analysts’ consensus estimates of ($2.67) by $0.84. The company had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.89 million. Arcadia Biosciences had a negative return on equity of 77.09% and a negative net margin of 279.74%. As a group, equities research analysts predict that Arcadia Biosciences will post -8.23 earnings per share for the current year.

Hedge Funds Weigh In On Arcadia Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of RKDA. Millennium Management LLC bought a new position in Arcadia Biosciences during the second quarter valued at $25,000. Jane Street Group LLC grew its holdings in Arcadia Biosciences by 215.8% during the first quarter. Jane Street Group LLC now owns 36,458 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 24,913 shares during the period. Susquehanna International Group LLP grew its holdings in Arcadia Biosciences by 85.1% during the fourth quarter. Susquehanna International Group LLP now owns 282,419 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 129,811 shares during the period. Renaissance Technologies LLC grew its holdings in Arcadia Biosciences by 66.5% during the second quarter. Renaissance Technologies LLC now owns 129,500 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 51,700 shares during the period. Finally, State Street Corp grew its holdings in Arcadia Biosciences by 76.7% during the first quarter. State Street Corp now owns 99,300 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 43,100 shares during the period. 12.61% of the stock is owned by institutional investors.

About Arcadia Biosciences

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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.

Further Reading

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