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

Research analysts at StockNews.com began coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note issued on Sunday. The firm set a “sell” rating on the basic materials company’s stock.

Arcadia Biosciences Trading Up 4.7%

Shares of NASDAQ:RKDA opened at $4.05 on Friday. The stock’s 50-day moving average price is $3.32 and its 200-day moving average price is $4.16. Arcadia Biosciences has a 12-month low of $2.40 and a 12-month high of $10.31. The stock has a market capitalization of $5.54 million, a P/E ratio of -0.95 and a beta of 0.35.

Arcadia Biosciences (NASDAQ:RKDA) last posted its earnings results on Thursday, May 8th. The basic materials company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.98) by $2.88. The company had revenue of $1.20 million during the quarter, compared to analyst estimates of $1.60 million. Arcadia Biosciences had a negative net margin of 110.61% and a negative return on equity of 52.63%.

Institutional Investors Weigh In On Arcadia Biosciences

An institutional investor recently bought a new position in Arcadia Biosciences stock. Geode Capital Management LLC bought a new position in Arcadia Biosciences, Inc. (NASDAQ:RKDA) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 12,297 shares of the basic materials company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned 0.90% of Arcadia Biosciences as of its most recent filing with the SEC. 17.73% of the stock is currently owned by hedge funds and other 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.