Arcadia Biosciences (NASDAQ:RKDA) Shares Cross Below 50-Day Moving Average of $2.91

Arcadia Biosciences, Inc. (NASDAQ:RKDA)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.91 and traded as low as $2.69. Arcadia Biosciences shares last traded at $2.71, with a volume of 12,171 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RKDA shares. Lake Street Capital raised Arcadia Biosciences to a “strong-buy” rating in a report on Tuesday, May 14th. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Arcadia Biosciences in a research note on Wednesday, August 21st. Finally, StockNews.com started coverage on shares of Arcadia Biosciences in a research note on Wednesday. They issued a “sell” rating for the company.

Arcadia Biosciences Stock Down 12.8 %

The stock has a 50 day moving average of $2.91 and a two-hundred day moving average of $2.67.

Arcadia Biosciences (NASDAQ:RKDA) last issued its 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 company had revenue of $1.31 million for 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 quarter in the previous year, the firm posted ($2.64) earnings per share. As a group, research analysts anticipate that Arcadia Biosciences, Inc. will post -1.7 EPS 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.