Arcadia Biosciences Inc (NASDAQ:RKDA) Short Interest Update
Arcadia Biosciences Inc (NASDAQ:RKDA) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,697,500 shares, an increase of 1,790.3% from the July 31st total of 89,800 shares. Based on an average daily trading volume, of 2,750,000 shares, the short-interest ratio is currently 0.6 days. Currently, 36.3% of the company’s shares are sold short.
Shares of NASDAQ:RKDA traded down $0.04 during trading hours on Wednesday, hitting $6.30. The company’s stock had a trading volume of 1,244,552 shares, compared to its average volume of 1,479,352. The firm’s fifty day moving average price is $5.29 and its 200 day moving average price is $5.36. Arcadia Biosciences has a 52 week low of $1.82 and a 52 week high of $10.40. The company has a market capitalization of $40.11 million, a price-to-earnings ratio of -1.18 and a beta of -2.94. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.29 and a quick ratio of 5.09.
In other news, CFO Matthew T. Plavan bought 8,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was acquired at an average cost of $8.73 per share, with a total value of $69,840.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kevin Comcowich bought 15,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average cost of $6.49 per share, with a total value of $97,350.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $32,450. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 26,200 shares of company stock valued at $187,986. 3.30% of the stock is owned by corporate insiders.
A number of equities analysts have recently issued reports on RKDA shares. National Securities increased their price target on Arcadia Biosciences from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. ValuEngine downgraded Arcadia Biosciences from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Arcadia Biosciences in a research note on Monday, August 12th.
About Arcadia Biosciences
Arcadia Biosciences, Inc, an agricultural food ingredient company, develops and commercializes health and nutrition ingredient traits worldwide. The company offers a suite of agricultural productivity traits, including nitrogen use efficiency, water use efficiency and drought tolerance, salinity tolerance, and herbicide tolerance traits.
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