Initiates Coverage on Arcadia Biosciences (NASDAQ:RKDA)

Analysts at assumed coverage on shares of Arcadia Biosciences (NASDAQ:RKDAGet Free Report) in a research report issued on Sunday. The brokerage set a “sell” rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the company. HC Wainwright lowered their target price on Arcadia Biosciences from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Lake Street Capital upgraded Arcadia Biosciences to a “strong-buy” rating in a research note on Tuesday, May 14th.

View Our Latest Stock Analysis on RKDA

Arcadia Biosciences Stock Performance

Shares of NASDAQ RKDA opened at $3.16 on Friday. The stock has a 50 day moving average price of $2.51 and a 200 day moving average price of $2.60. Arcadia Biosciences has a 52 week low of $1.85 and a 52 week high of $5.60. The stock has a market capitalization of $4.30 million, a PE ratio of -0.61 and a beta of 0.70.

Arcadia Biosciences (NASDAQ:RKDAGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The basic materials company reported ($1.78) EPS for the quarter, beating the consensus estimate of ($2.52) by $0.74. The firm had revenue of $1.26 million during the quarter, compared to analysts’ expectations of $1.20 million. Arcadia Biosciences had a negative return on equity of 84.27% and a negative net margin of 129.74%. During the same period in the prior year, the firm posted ($3.83) earnings per share. As a group, research analysts forecast that Arcadia Biosciences will post -2.29 EPS for the current year.

About Arcadia Biosciences

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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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