Arcadia Biosciences (NASDAQ:RKDA) Earns Sell Rating from Analysts at StockNews.com

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

Separately, HC Wainwright restated a buy rating and set a $10.00 price target on shares of Arcadia Biosciences in a research note on Friday, April 5th.

Arcadia Biosciences Stock Performance

NASDAQ RKDA opened at $2.06 on Friday. Arcadia Biosciences has a one year low of $1.85 and a one year high of $7.30. The stock has a 50-day moving average of $2.43 and a 200 day moving average of $2.76. The company has a market capitalization of $2.80 million, a price-to-earnings ratio of -0.14 and a beta of 0.60.

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

Institutional Investors Weigh In On Arcadia Biosciences

Large investors have recently made changes to their positions in the company. Sabby Management LLC bought a new stake in shares of Arcadia Biosciences during the 1st quarter valued at about $395,000. State Street Corp lifted its position in shares of Arcadia Biosciences by 76.7% during the 1st quarter. State Street Corp now owns 99,300 shares of the basic materials company’s stock valued at $139,000 after buying an additional 43,100 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Arcadia Biosciences by 66.5% during the 2nd quarter. Renaissance Technologies LLC now owns 129,500 shares of the basic materials company’s stock valued at $130,000 after buying an additional 51,700 shares in the last quarter. Susquehanna International Group LLP lifted its position 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 buying an additional 129,811 shares in the last quarter. Finally, Jane Street Group LLC lifted its position 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 buying an additional 24,913 shares in the last quarter. 17.73% of the stock is currently owned by institutional investors.

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.