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

StockNews.com began coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a report published on Wednesday morning. The brokerage issued a sell rating on the basic materials company’s stock.

Arcadia Biosciences Stock Down 9.3 %

NASDAQ RKDA opened at $3.98 on Wednesday. Arcadia Biosciences has a fifty-two week low of $1.85 and a fifty-two week high of $10.31. The stock has a market cap of $5.41 million, a price-to-earnings ratio of -0.93 and a beta of 0.88. The business has a fifty day moving average of $5.28 and a 200-day moving average of $4.00.

Hedge Funds Weigh In On Arcadia Biosciences

A hedge fund recently bought a new stake in Arcadia Biosciences stock. Geode Capital Management LLC purchased a new position in Arcadia Biosciences, Inc. (NASDAQ:RKDA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 12,297 shares of the basic materials company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned about 0.90% of Arcadia Biosciences as of its most recent SEC filing. 17.73% of the stock is currently owned by institutional investors and hedge funds.

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.