Arcadia Biosciences’ (RKDA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Arcadia Biosciences (NASDAQ:RKDA) in a report issued on Wednesday, Benzinga reports. HC Wainwright currently has a $6.00 price target on the basic materials company’s stock. HC Wainwright also issued estimates for Arcadia Biosciences’ Q3 2024 earnings at ($0.77) EPS, Q4 2024 earnings at ($0.50) EPS, FY2024 earnings at ($1.70) EPS, Q1 2025 earnings at ($0.37) EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at ($0.09) EPS and FY2025 earnings at $0.12 EPS.

RKDA has been the subject of a number of other research reports. StockNews.com initiated coverage on shares of Arcadia Biosciences in a report on Monday, August 19th. They issued a sell rating for the company. Lake Street Capital upgraded shares of Arcadia Biosciences to a strong-buy rating in a report on Tuesday, May 14th.

Arcadia Biosciences Price Performance

Shares of NASDAQ:RKDA opened at $2.83 on Wednesday. Arcadia Biosciences has a one year low of $1.85 and a one year high of $4.79. The company has a market cap of $3.85 million, a price-to-earnings ratio of -0.54 and a beta of 0.86. The firm has a 50 day simple moving average of $2.93 and a 200 day simple moving average of $2.65.

Arcadia Biosciences (NASDAQ:RKDA) last released its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.49). The firm 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 127.29% and a negative return on equity of 57.51%. During the same period last year, the business earned ($2.64) EPS. As a group, analysts expect that Arcadia Biosciences will post -2.29 EPS for the current 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.