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

Arcadia Biosciences, Inc. (NASDAQ:RKDA) was the recipient of a significant decline in short interest in the month of October. As of October 30th, there was short interest totaling 115,580 shares, a decline of 66.3% from the October 15th total of 342,847 shares. Based on an average daily volume of 766,639 shares, the days-to-cover ratio is presently 0.2 days. Approximately 5.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Arcadia Biosciences in a report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Arcadia Biosciences Stock Performance

Arcadia Biosciences stock opened at $0.22 on Friday. The stock has a market capitalization of $535,020.00, a P/E ratio of -0.05 and a beta of 0.63. Arcadia Biosciences has a 52 week low of $0.11 and a 52 week high of $3.87. The stock has a fifty day moving average of $0.28 and a 200-day moving average of $0.93.

Arcadia Biosciences (NASDAQ:RKDA) last announced its quarterly earnings results on Thursday, November 12th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.75. Arcadia Biosciences had a negative net margin of 234.53% and a negative return on equity of 183.50%. The company had revenue of $1.62 million for the quarter, compared to analyst estimates of $2.40 million.

About Arcadia Biosciences

Arcadia Biosciences, Inc. is an agricultural biotechnology company focused on developing and commercializing food ingredients and crop-based products intended to support health and wellness. The company applies plant science and breeding technologies to develop crops with enhanced nutritional characteristics and products designed for consumer and food-industry applications. Its product portfolio has included GoodWheat, a wheat variety developed with increased dietary fiber and other nutritional attributes, as well as GoodHemp, a line of hemp-based food products and ingredients.