Arcadia Biosciences (NASDAQ:RKDA) Coverage Initiated by Analysts at StockNews.com

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

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

Arcadia Biosciences Trading Down 5.4 %

Shares of Arcadia Biosciences stock traded down $0.22 during mid-day trading on Thursday, hitting $3.86. 13,111 shares of the stock were exchanged, compared to its average volume of 18,731. The company has a 50-day simple moving average of $3.22 and a 200 day simple moving average of $2.94. The stock has a market capitalization of $5.25 million, a price-to-earnings ratio of -0.74 and a beta of 1.27. Arcadia Biosciences has a twelve month low of $1.85 and a twelve month high of $5.34.

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

About Arcadia Biosciences

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.