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

Arcadia Biosciences, Inc. (NASDAQ:RKDA) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 26,100 shares, a decrease of 13.3% from the August 31st total of 30,100 shares. Based on an average daily trading volume, of 8,700 shares, the short-interest ratio is currently 3.0 days. Approximately 4.3% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com started coverage on Arcadia Biosciences in a report on Saturday. They set a “sell” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Arcadia Biosciences in a report on Wednesday, August 21st.

Arcadia Biosciences Stock Down 0.4 %

Shares of NASDAQ:RKDA opened at $2.72 on Monday. The firm has a market cap of $3.70 million, a price-to-earnings ratio of -0.53 and a beta of 1.34. Arcadia Biosciences has a 12 month low of $1.85 and a 12 month high of $3.93. The company’s fifty day simple moving average is $2.82 and its 200 day simple moving average is $2.68.

Arcadia Biosciences (NASDAQ:RKDA) last issued its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.49). The firm had revenue of $1.31 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned ($2.64) earnings per share. Research analysts expect that Arcadia Biosciences will post -1.7 earnings per share for the current fiscal 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.