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

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

Arcadia Biosciences Stock Performance

NASDAQ RKDA opened at $2.21 on Thursday. Arcadia Biosciences has a 52-week low of $2.12 and a 52-week high of $8.18. The company has a market capitalization of $2.45 million, a P/E ratio of -0.12 and a beta of 0.62. The company has a fifty day moving average of $2.57 and a 200-day moving average of $2.94.

Hedge Funds Weigh In On Arcadia Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of RKDA. State Street Corp raised its stake in shares of 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 acquiring an additional 43,100 shares during the last quarter. Jane Street Group LLC increased its position in shares of 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 buying an additional 24,913 shares during the period. Renaissance Technologies LLC increased its position in shares of 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 buying an additional 51,700 shares during the period. Millennium Management LLC purchased a new position in shares of Arcadia Biosciences during the second quarter valued at about $25,000. Finally, Susquehanna International Group LLP increased its position in shares of 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 buying an additional 129,811 shares during the period. 17.73% of the stock is owned by institutional investors.

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.