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

Stock analysts at StockNews.com began coverage on shares of Arcadia Biosciences (NASDAQ:RKDAGet Free Report) in a report released on Sunday. The brokerage set a “sell” rating on the basic materials company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Arcadia Biosciences in a research report on Friday, April 5th.

Check Out Our Latest Stock Report on Arcadia Biosciences

Arcadia Biosciences Stock Up 5.6 %

Shares of Arcadia Biosciences stock opened at $2.06 on Friday. The firm has a market capitalization of $2.80 million, a P/E ratio of -0.14 and a beta of 0.60. The company has a 50 day moving average price of $2.43 and a 200 day moving average price of $2.77. Arcadia Biosciences has a 52 week low of $1.85 and a 52 week high of $7.30.

Arcadia Biosciences (NASDAQ:RKDAGet Free Report) last announced its quarterly earnings data on Thursday, March 28th. The basic materials company reported ($2.48) EPS for the quarter, beating the consensus estimate of ($2.68) by $0.20. The firm had revenue of $1.17 million during the quarter, compared to analyst estimates of $1.80 million. Arcadia Biosciences had a negative net margin of 246.80% and a negative return on equity of 81.56%. As a group, research analysts anticipate that Arcadia Biosciences will post -5.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcadia Biosciences

A number of institutional investors have recently bought and sold shares of RKDA. Millennium Management LLC purchased a new position in Arcadia Biosciences during the 2nd quarter worth approximately $25,000. Virtu Financial LLC purchased a new position in shares of Arcadia Biosciences during the 4th quarter valued at approximately $34,000. Vanguard Group Inc. purchased a new position in shares of Arcadia Biosciences during the 4th quarter valued at approximately $44,000. Jane Street Group LLC increased its holdings in shares of Arcadia Biosciences by 215.8% during the 1st quarter. Jane Street Group LLC now owns 36,458 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 24,913 shares in the last quarter. Finally, Susquehanna International Group LLP increased its holdings in shares of Arcadia Biosciences by 85.1% during the 4th quarter. Susquehanna International Group LLP now owns 282,419 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 129,811 shares in the last quarter. 17.73% of the stock is owned by hedge funds and other institutional investors.

Arcadia Biosciences Company Profile

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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.

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