Arcadia Biosciences (NASDAQ:RKDA) Coverage Initiated at StockNews.com

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

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

Arcadia Biosciences Price Performance

RKDA opened at $1.89 on Friday. Arcadia Biosciences has a 12 month low of $1.85 and a 12 month high of $7.30. The business has a 50-day moving average of $2.47 and a two-hundred day moving average of $2.80. The stock has a market capitalization of $2.58 million, a price-to-earnings ratio of -0.13 and a beta of 0.60.

Hedge Funds Weigh In On Arcadia Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new position in Arcadia Biosciences during the second quarter valued at approximately $25,000. Virtu Financial LLC purchased a new position in Arcadia Biosciences in the fourth quarter valued at about $34,000. Vanguard Group Inc. acquired a new position in shares of Arcadia Biosciences during the fourth quarter worth about $44,000. Jane Street Group LLC boosted its position in shares of Arcadia Biosciences by 215.8% in the first quarter. Jane Street Group LLC now owns 36,458 shares of the basic materials company’s stock worth $51,000 after buying an additional 24,913 shares during the period. Finally, Susquehanna International Group LLP grew its stake in shares of Arcadia Biosciences by 85.1% in the fourth 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. 17.73% of the stock is owned by institutional investors and hedge funds.

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.