Arcadia Biosciences (NASDAQ:RKDA) Stock Price Breaks Below 50 Day Moving Average – Here’s What Happened

Arcadia Biosciences, Inc. (NASDAQ:RKDA) shares crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $0.49 and traded as low as $0.2725. Arcadia Biosciences shares last traded at $0.2980, with a volume of 765,240 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Arcadia Biosciences in a research note on Tuesday, September 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Arcadia Biosciences Trading Down 4.7%

The firm has a market cap of $659,376.00, a P/E ratio of -0.06 and a beta of 0.56. The business has a 50-day moving average price of $0.48 and a 200-day moving average price of $0.81.

Arcadia Biosciences (NASDAQ:RKDA) last released its quarterly earnings data on Thursday, August 13th. The basic materials company reported ($2.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($1.53). Arcadia Biosciences had a negative return on equity of 183.50% and a negative net margin of 234.53%.The business had revenue of $1.44 million during the quarter, compared to analysts’ expectations of $1.90 million.

Arcadia Biosciences Company Profile

Arcadia Biosciences, Inc is an agricultural biotechnology company focused on developing and commercializing plant-based products and crop technologies. The company has historically used advanced plant science and breeding techniques to improve the nutritional profile, sustainability, and commercial value of agricultural crops.

Its product portfolio has included GoodWheat, a wheat variety developed with reduced gluten and increased dietary fiber, and GoodHemp, a line of hemp products such as hemp seed, hemp protein, and hemp-derived ingredients.