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

Research analysts at StockNews.com started coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note issued on Sunday. 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 note on Wednesday, August 21st.

Arcadia Biosciences Price Performance

NASDAQ RKDA opened at $2.90 on Friday. Arcadia Biosciences has a 1-year low of $1.85 and a 1-year high of $3.93. The business has a 50 day simple moving average of $2.81 and a two-hundred day simple moving average of $2.70. The stock has a market capitalization of $3.94 million, a PE ratio of -0.56 and a beta of 1.34.

Arcadia Biosciences (NASDAQ:RKDA) last posted its earnings results on Tuesday, August 13th. The basic materials company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.49). Arcadia Biosciences had a negative net margin of 127.29% and a negative return on equity of 57.51%. The business had revenue of $1.31 million during the quarter, compared to analysts’ expectations of $0.95 million. During the same period last year, the business posted ($2.64) earnings per share. On average, analysts anticipate that Arcadia Biosciences will post -1.7 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.