Arcadia Biosciences, Inc. (NASDAQ:RKDA) Sees Significant Drop in Short Interest

Arcadia Biosciences, Inc. (NASDAQ:RKDA) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 10,300 shares, a decrease of 16.9% from the February 28th total of 12,400 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average trading volume of 15,000 shares, the days-to-cover ratio is currently 0.7 days.

Arcadia Biosciences Trading Down 2.7 %

RKDA stock traded down $0.08 on Tuesday, hitting $2.89. The company had a trading volume of 793 shares, compared to its average volume of 310,595. The stock has a market cap of $3.94 million, a price-to-earnings ratio of -0.68 and a beta of 0.86. The stock’s 50-day simple moving average is $4.11 and its 200 day simple moving average is $4.13. Arcadia Biosciences has a 12-month low of $1.85 and a 12-month high of $10.31.

Hedge Funds Weigh In On Arcadia Biosciences

A hedge fund recently bought a new stake in Arcadia Biosciences stock. Geode Capital Management LLC acquired a new stake in shares of Arcadia Biosciences, Inc. (NASDAQ:RKDA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 12,297 shares of the basic materials company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned 0.90% of Arcadia Biosciences at the end of the most recent reporting period. Institutional investors own 17.73% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Arcadia Biosciences in a research report on Monday. They set a “sell” rating on the stock.

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.