Brokerages Expect Arcadia Biosciences Inc (NASDAQ:RKDA) Will Announce Quarterly Sales of $1.54 Million

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.

Several analysts recently weighed in on RKDA shares. National Securities restated a “buy” rating and set a $16.00 price target on shares of Arcadia Biosciences in a report on Tuesday, May 26th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Arcadia Biosciences in a research note on Tuesday, May 19th. Finally, ValuEngine upgraded Arcadia Biosciences from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd.

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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