Arcadia Biosciences (RKDA) Upgraded at ValuEngine

Arcadia Biosciences (NASDAQ:RKDA) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Separately, Piper Jaffray set a $20.00 price target on shares of Arcadia Biosciences and gave the stock a “hold” rating in a report on Wednesday, March 14th.

NASDAQ RKDA opened at $26.45 on Thursday. The stock has a market capitalization of $62.05, a PE ratio of -3.86 and a beta of -5.79. Arcadia Biosciences has a 12 month low of $3.60 and a 12 month high of $66.56.

Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings results on Tuesday, March 20th. The basic materials company reported ($1.39) EPS for the quarter, topping the Zacks’ consensus estimate of ($2.00) by $0.61. The firm had revenue of $1.43 million for the quarter. Arcadia Biosciences had a negative net margin of 390.14% and a negative return on equity of 121.31%.

In related news, VP Zhongjin Lu sold 1,750 shares of the company’s stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $32.74, for a total value of $57,295.00. Following the completion of the sale, the vice president now directly owns 2,308 shares of the company’s stock, valued at $75,563.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric J. Rey sold 5,000 shares of the company’s stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $33.44, for a total transaction of $167,200.00. Following the completion of the sale, the director now directly owns 12,335 shares of the company’s stock, valued at $412,482.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,005 shares of company stock worth $1,189,047. Company insiders own 25.90% of the company’s stock.

A hedge fund recently raised its stake in Arcadia Biosciences stock. Renaissance Technologies LLC increased its holdings in Arcadia Biosciences Inc (NASDAQ:RKDA) by 294.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 552,600 shares of the basic materials company’s stock after acquiring an additional 412,400 shares during the quarter. Renaissance Technologies LLC owned approximately 25.94% of Arcadia Biosciences worth $152,000 as of its most recent SEC filing. 30.98% of the stock is owned by institutional investors and hedge funds.

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About Arcadia Biosciences

Arcadia Biosciences, Inc is an agricultural biotechnology trait company. The Company develops a portfolio of yield and traits addressing multiple crops that supply the global food and feed markets. It has a pipeline of products in development incorporating its traits, including products that are in advanced stages of development or on the market.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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