StockNews.com Begins Coverage on Arcadia Biosciences (NASDAQ:RKDA)

Equities researchers at StockNews.com assumed coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note issued to investors on Sunday. The firm set a “sell” rating on the basic materials company’s stock.

Arcadia Biosciences Price Performance

RKDA stock opened at $3.11 on Friday. The firm has a market cap of $4.24 million, a price-to-earnings ratio of -0.73 and a beta of 0.86. Arcadia Biosciences has a 1-year low of $1.85 and a 1-year high of $10.31. The firm has a fifty day moving average price of $4.30 and a two-hundred day moving average price of $4.12.

Institutional Trading of Arcadia Biosciences

A hedge fund recently bought a new stake in Arcadia Biosciences stock. Geode Capital Management LLC purchased a new stake in Arcadia Biosciences, Inc. (NASDAQ:RKDA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 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 quarter. 17.73% of the stock is currently owned by institutional investors and hedge funds.

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.