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

StockNews.com assumed coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research report sent to investors on Friday morning. The firm issued a sell rating on the basic materials company’s stock.

Other equities analysts have also recently issued research reports about the company. Lake Street Capital upgraded Arcadia Biosciences to a strong-buy rating in a report on Tuesday, May 14th. HC Wainwright dropped their price target on Arcadia Biosciences from $10.00 to $6.00 and set a buy rating on the stock in a research report on Thursday, May 23rd.

Arcadia Biosciences Stock Performance

Shares of RKDA opened at $2.66 on Friday. Arcadia Biosciences has a 1 year low of $1.85 and a 1 year high of $4.87. The stock has a market cap of $3.62 million, a P/E ratio of -0.52 and a beta of 0.86. The stock’s 50-day moving average price is $3.02 and its two-hundred day moving average price is $2.63.

Arcadia Biosciences (NASDAQ:RKDA) last issued its earnings results on Thursday, May 9th. The basic materials company reported ($1.78) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.52) by $0.74. Arcadia Biosciences had a negative return on equity of 84.27% and a negative net margin of 129.74%. The firm had revenue of $1.26 million for the quarter, compared to analysts’ expectations of $1.20 million. During the same quarter last year, the business earned ($3.83) earnings per share. As a group, equities analysts forecast that Arcadia Biosciences will post -2.29 EPS for the current 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.