StockNews.com Initiates Coverage on Arcadia Biosciences (NASDAQ:RKDA)

Investment analysts at StockNews.com assumed coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note issued on Tuesday. The brokerage set a “sell” rating on the basic materials company’s stock.

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

Arcadia Biosciences Trading Down 0.7 %

NASDAQ RKDA opened at $3.00 on Tuesday. Arcadia Biosciences has a 1 year low of $1.85 and a 1 year high of $5.60. The firm has a market capitalization of $4.08 million, a P/E ratio of -0.58 and a beta of 0.86. The firm’s fifty day moving average price is $2.77 and its two-hundred day moving average price is $2.62.

Arcadia Biosciences (NASDAQ:RKDA) last released its quarterly earnings data 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. Arcadia Biosciences had a negative net margin of 129.74% and a negative return on equity of 84.27%. The firm had revenue of $1.26 million for the quarter, compared to the consensus estimate of $1.20 million. During the same period in the previous year, the company earned ($3.83) earnings per share. On average, research analysts anticipate that Arcadia Biosciences will post -2.29 EPS for the current fiscal 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.