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

StockNews.com initiated coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note published on Tuesday. The brokerage issued a sell rating on the basic materials company’s stock.

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

Arcadia Biosciences Stock Performance

RKDA opened at $2.01 on Tuesday. Arcadia Biosciences has a one year low of $1.85 and a one year high of $7.30. The stock has a market cap of $2.73 million, a price-to-earnings ratio of -0.14 and a beta of 0.62. The stock’s 50 day moving average price is $2.24 and its 200-day moving average price is $2.67.

Arcadia Biosciences (NASDAQ:RKDA) last released its earnings results on Thursday, March 28th. The basic materials company reported ($2.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.68) by $0.20. The business had revenue of $1.17 million for the quarter, compared to analyst estimates of $1.80 million. Arcadia Biosciences had a negative return on equity of 81.56% and a negative net margin of 246.80%. As a group, analysts predict that Arcadia Biosciences will post -5.01 earnings per share for the current fiscal year.

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.