Arcadia Biosciences, Inc. (NASDAQ:RKDA) Sees Large Decrease in Short Interest

Arcadia Biosciences, Inc. (NASDAQ:RKDA) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 10,300 shares, a drop of 16.9% from the February 28th total of 12,400 shares. Based on an average daily trading volume, of 15,000 shares, the short-interest ratio is presently 0.7 days. Approximately 0.8% of the company’s shares are short sold.

Arcadia Biosciences Stock Performance

NASDAQ RKDA traded down $0.26 on Wednesday, reaching $2.67. 4,549 shares of the stock traded hands, compared to its average volume of 310,523. Arcadia Biosciences has a 12 month low of $1.85 and a 12 month high of $10.31. The company has a fifty day moving average price of $4.07 and a 200-day moving average price of $4.13. The company has a market cap of $3.65 million, a price-to-earnings ratio of -0.62 and a beta of 0.78.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Arcadia Biosciences in a research report on Monday. They issued a “sell” rating for the company.

Institutional Trading of 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 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,297 shares of the basic materials company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned 0.90% of Arcadia Biosciences as of its most recent filing with the Securities and Exchange Commission. 17.73% of the stock is owned by institutional investors.

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.