StockNews.com Initiates Coverage on Arcadia Biosciences (NASDAQ:RKDA)

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

Separately, HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Arcadia Biosciences in a report on Wednesday, August 21st.

Arcadia Biosciences Price Performance

RKDA stock opened at $2.93 on Friday. The stock has a market capitalization of $3.99 million, a PE ratio of -0.57 and a beta of 1.34. Arcadia Biosciences has a 52 week low of $1.85 and a 52 week high of $4.19. The firm has a 50 day moving average of $2.85 and a 200 day moving average of $2.67.

Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.49). The company had revenue of $1.31 million during the quarter, compared to analysts’ expectations of $0.95 million. Arcadia Biosciences had a negative return on equity of 57.51% and a negative net margin of 127.29%. During the same period in the prior year, the business posted ($2.64) EPS. On average, equities research analysts expect that Arcadia Biosciences will post -1.7 earnings per share for the current year.

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.