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

Analysts at StockNews.com initiated coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a note issued to investors on Monday. The brokerage set a “sell” rating on the basic materials company’s stock.

A number of other equities research analysts have also issued reports on the stock. Lake Street Capital raised shares of Arcadia Biosciences to a “strong-buy” rating in a report on Tuesday, May 14th. HC Wainwright cut their price target on shares of Arcadia Biosciences from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd.

Arcadia Biosciences Stock Up 0.3 %

Shares of NASDAQ:RKDA opened at $3.02 on Monday. The stock has a market cap of $4.11 million, a PE ratio of -0.59 and a beta of 0.70. The company’s fifty day moving average is $2.59 and its 200 day moving average is $2.61. Arcadia Biosciences has a 52 week low of $1.85 and a 52 week high of $5.60.

Arcadia Biosciences (NASDAQ:RKDA) last issued its earnings results on Thursday, May 9th. The basic materials company reported ($1.78) EPS for the quarter, topping analysts’ consensus estimates of ($2.52) by $0.74. The company had revenue of $1.26 million for the quarter, compared to analysts’ expectations of $1.20 million. Arcadia Biosciences had a negative net margin of 129.74% and a negative return on equity of 84.27%. During the same quarter last year, the company earned ($3.83) EPS. Sell-side analysts anticipate that Arcadia Biosciences will post -2.29 EPS for the current year.

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.