Analysts predict that Arcadia Biosciences Inc (NASDAQ:RKDA) will announce $1.54 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Arcadia Biosciences’ earnings, with the lowest sales estimate coming in at $1.52 million and the highest estimate coming in at $1.55 million. Arcadia Biosciences reported sales of $200,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 670%. The business is scheduled to report its next quarterly earnings report on Wednesday, August 12th.
According to Zacks, analysts expect that Arcadia Biosciences will report full year sales of $9.89 million for the current financial year, with estimates ranging from $9.82 million to $9.96 million. For the next fiscal year, analysts expect that the firm will post sales of $16.35 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Arcadia Biosciences.
Arcadia Biosciences (NASDAQ:RKDA) last released its quarterly earnings results on Wednesday, May 13th. The basic materials company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.84. Arcadia Biosciences had a negative return on equity of 180.70% and a negative net margin of 1,035.38%. The company had revenue of $0.31 million for the quarter, compared to analyst estimates of $0.60 million.
Institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley grew its position in shares of Arcadia Biosciences by 28.2% during the 1st quarter. Morgan Stanley now owns 13,878 shares of the basic materials company’s stock worth $40,000 after buying an additional 3,052 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Arcadia Biosciences by 263.2% during the 1st quarter. Wells Fargo & Company MN now owns 16,343 shares of the basic materials company’s stock worth $46,000 after buying an additional 11,843 shares in the last quarter. Oxford Asset Management LLP bought a new position in shares of Arcadia Biosciences during the 4th quarter worth $191,000. Finally, Geode Capital Management LLC grew its position in shares of Arcadia Biosciences by 21.3% during the 4th quarter. Geode Capital Management LLC now owns 38,223 shares of the basic materials company’s stock worth $209,000 after buying an additional 6,708 shares in the last quarter. 5.07% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:RKDA traded down $0.16 during midday trading on Monday, hitting $3.92. 163,348 shares of the company traded hands, compared to its average volume of 235,954. The firm’s fifty day moving average is $4.03 and its 200-day moving average is $4.34. Arcadia Biosciences has a 12-month low of $1.82 and a 12-month high of $10.20. The firm has a market capitalization of $35.31 million, a P/E ratio of -2.46 and a beta of -0.72. The company has a current ratio of 4.09, a quick ratio of 3.06 and a debt-to-equity ratio of 0.45.
Arcadia Biosciences Company Profile
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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