StockNews.com started coverage on shares of Arcadia Biosciences (NASDAQ:RKDA – Free Report) in a research report report published on Monday. The firm issued a sell rating on the basic materials company’s stock.
Separately, HC Wainwright reduced their price objective on shares of Arcadia Biosciences from $15.00 to $10.00 and set a buy rating on the stock in a research note on Monday, August 28th.
Arcadia Biosciences Trading Down 3.5 %
Arcadia Biosciences (NASDAQ:RKDA – Get Free Report) last posted its quarterly earnings data on Thursday, August 10th. The basic materials company reported ($2.64) earnings per share for the quarter, beating the consensus estimate of ($4.92) by $2.28. The firm had revenue of $1.39 million during the quarter, compared to analysts’ expectations of $1.43 million. Arcadia Biosciences had a negative net margin of 271.33% and a negative return on equity of 69.76%. On average, research analysts predict that Arcadia Biosciences will post -7.27 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Sabby Management LLC acquired a new stake in shares of Arcadia Biosciences in the first quarter valued at approximately $395,000. State Street Corp increased its holdings in Arcadia Biosciences by 76.7% during the first quarter. State Street Corp now owns 99,300 shares of the basic materials company’s stock worth $139,000 after buying an additional 43,100 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Arcadia Biosciences by 66.5% during the second quarter. Renaissance Technologies LLC now owns 129,500 shares of the basic materials company’s stock worth $130,000 after buying an additional 51,700 shares during the last quarter. Susquehanna International Group LLP boosted its position in Arcadia Biosciences by 85.1% during the fourth quarter. Susquehanna International Group LLP now owns 282,419 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 129,811 shares during the period. Finally, Jane Street Group LLC boosted its position in Arcadia Biosciences by 215.8% during the first quarter. Jane Street Group LLC now owns 36,458 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 24,913 shares during the period. Institutional investors own 12.61% of the company’s stock.
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.
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