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

Investment analysts at StockNews.com assumed coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note issued to investors on Monday. The brokerage set a “sell” rating on the basic materials company’s stock.

A number of other equities research analysts have also recently weighed in on the company. HC Wainwright dropped their price target on Arcadia Biosciences from $10.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Lake Street Capital raised Arcadia Biosciences to a “strong-buy” rating in a report on Tuesday, May 14th.

Arcadia Biosciences Trading Up 0.3 %

Shares of RKDA opened at $3.02 on Monday. Arcadia Biosciences has a 1 year low of $1.85 and a 1 year high of $5.60. The stock has a 50 day simple moving average of $2.59 and a 200-day simple moving average of $2.61. The stock has a market cap of $4.11 million, a PE ratio of -0.59 and a beta of 0.70.

Arcadia Biosciences (NASDAQ:RKDA) last released its quarterly earnings results on Thursday, May 9th. The basic materials company reported ($1.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.52) by $0.74. Arcadia Biosciences had a negative return on equity of 84.27% and a negative net margin of 129.74%. The firm had revenue of $1.26 million during the quarter, compared to analysts’ expectations of $1.20 million. During the same period last year, the firm posted ($3.83) EPS. On average, sell-side analysts forecast that Arcadia Biosciences will post -2.29 EPS 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.