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

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

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

Arcadia Biosciences Price Performance

Shares of NASDAQ RKDA opened at $4.16 on Thursday. The stock has a market capitalization of $5.66 million, a P/E ratio of -0.83 and a beta of 1.27. Arcadia Biosciences has a 1-year low of $1.85 and a 1-year high of $5.34. The business’s 50 day moving average is $3.16 and its two-hundred day moving average is $2.92.

Arcadia Biosciences (NASDAQ:RKDA) last released its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.78 earnings per share 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 net margin of 127.29% and a negative return on equity of 57.51%. During the same quarter in the previous year, the company posted ($2.64) EPS. As a group, equities research analysts anticipate 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.