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

Stock analysts at StockNews.com began coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a report issued on Friday. The brokerage set a “sell” rating on the basic materials company’s stock.

Separately, HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Arcadia Biosciences in a report on Wednesday, August 21st.

Arcadia Biosciences Trading Down 7.9 %

Shares of RKDA stock opened at $3.86 on Friday. The company has a market cap of $5.26 million, a PE ratio of -0.90 and a beta of 1.27. Arcadia Biosciences has a 12-month low of $1.85 and a 12-month high of $5.34. The business’s fifty day simple moving average is $3.34 and its 200-day simple moving average is $3.01.

Arcadia Biosciences (NASDAQ:RKDA) last announced its earnings results on Tuesday, August 13th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.49). The business had revenue of $1.31 million for the quarter, compared to analyst estimates of $0.95 million. Arcadia Biosciences had a negative net margin of 110.61% and a negative return on equity of 51.00%. During the same period in the prior year, the company earned ($2.64) earnings per share. On average, equities analysts forecast that Arcadia Biosciences will post -1.7 earnings per share for the current year.

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.