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

StockNews.com began coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note released on Wednesday. The brokerage issued a sell rating on the basic materials company’s stock.

Other analysts have also issued research reports about the stock. HC Wainwright reissued a buy rating and issued a $6.00 price target on shares of Arcadia Biosciences in a report on Wednesday, August 21st. Lake Street Capital raised shares of Arcadia Biosciences to a strong-buy rating in a report on Tuesday, May 14th.

Arcadia Biosciences Stock Down 2.7 %

Arcadia Biosciences stock opened at $2.78 on Wednesday. The stock has a market cap of $3.78 million, a P/E ratio of -0.54 and a beta of 1.34. Arcadia Biosciences has a 12 month low of $1.85 and a 12 month high of $4.32. The company’s fifty day simple moving average is $2.89 and its 200-day simple moving average is $2.67.

Arcadia Biosciences (NASDAQ:RKDA) last released its earnings results on Tuesday, August 13th. The basic materials company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.49). Arcadia Biosciences had a negative return on equity of 57.51% and a negative net margin of 127.29%. The firm had revenue of $1.31 million for the quarter, compared to analyst estimates of $0.95 million. During the same period in the prior year, the firm earned ($2.64) EPS. On average, equities research analysts expect that Arcadia Biosciences will post -1.7 earnings per share for the current fiscal 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.