Arcadia Biosciences (NASDAQ:RKDA) Given New $6.00 Price Target at HC Wainwright

Arcadia Biosciences (NASDAQ:RKDA) had its price objective dropped by stock analysts at HC Wainwright from $10.00 to $6.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price target suggests a potential upside of 115.83% from the company’s current price.

Other research analysts have also issued research reports about the stock. StockNews.com initiated coverage on shares of Arcadia Biosciences in a research note on Thursday. They issued a “sell” rating on the stock. Lake Street Capital raised shares of Arcadia Biosciences to a “strong-buy” rating in a research note on Tuesday, May 14th.

Arcadia Biosciences Trading Down 10.5 %

Shares of NASDAQ RKDA opened at $2.78 on Thursday. The firm has a market capitalization of $3.78 million, a PE ratio of -0.54 and a beta of 0.62. Arcadia Biosciences has a 1 year low of $1.85 and a 1 year high of $5.60. The firm’s 50-day moving average is $2.24 and its 200-day moving average is $2.62.

Arcadia Biosciences (NASDAQ:RKDA) last released its quarterly earnings data on Thursday, May 9th. The basic materials company reported ($1.78) earnings per share for the quarter, topping the consensus estimate of ($2.52) by $0.74. Arcadia Biosciences had a negative net margin of 129.74% and a negative return on equity of 84.27%. The business had revenue of $1.26 million for the quarter, compared to analyst estimates of $1.20 million. During the same quarter last year, the firm earned ($3.83) EPS. As a group, equities research analysts anticipate that Arcadia Biosciences will post -5.01 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.