Short Interest in Arcadia Biosciences, Inc. (NASDAQ:RKDA) Increases By 43.1%

Arcadia Biosciences, Inc. (NASDAQ:RKDA) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 24,900 shares, an increase of 43.1% from the October 15th total of 17,400 shares. Based on an average trading volume of 13,300 shares, the short-interest ratio is presently 1.9 days. Currently, 4.1% of the company’s stock are sold short.

Arcadia Biosciences Trading Down 24.9 %

Arcadia Biosciences stock traded down $0.96 during mid-day trading on Friday, reaching $2.90. The company’s stock had a trading volume of 64,881 shares, compared to its average volume of 18,779. Arcadia Biosciences has a twelve month low of $1.85 and a twelve month high of $5.34. The business has a 50 day moving average price of $3.34 and a 200-day moving average price of $3.02. The firm has a market cap of $3.94 million, a price-to-earnings ratio of -0.68 and a beta of 1.27.

Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.49). Arcadia Biosciences had a negative net margin of 110.61% and a negative return on equity of 52.63%. The business had revenue of $1.31 million during the quarter, compared to analyst estimates of $0.95 million. During the same period last year, the firm posted ($2.64) earnings per share. On average, equities analysts expect that Arcadia Biosciences will post -1.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Arcadia Biosciences in a research report on Wednesday, August 21st. StockNews.com initiated coverage on Arcadia Biosciences in a report on Friday. They set a “sell” rating on the stock.

About Arcadia Biosciences

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.