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

StockNews.com started coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a report released on Wednesday. The firm set a “sell” rating on the basic materials company’s stock.

Several other research firms have also commented on RKDA. Lake Street Capital upgraded shares of Arcadia Biosciences to a “strong-buy” rating in a research note on Tuesday, May 14th. HC Wainwright reduced their target price on shares of Arcadia Biosciences from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd.

Arcadia Biosciences Stock Performance

NASDAQ:RKDA opened at $3.18 on Wednesday. The firm has a market cap of $4.33 million, a price-to-earnings ratio of -0.62 and a beta of 0.86. Arcadia Biosciences has a 52 week low of $1.85 and a 52 week high of $5.60. The firm has a 50-day moving average price of $2.89 and a two-hundred day moving average price of $2.62.

Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings data on Thursday, May 9th. The basic materials company reported ($1.78) EPS for the quarter, beating the consensus estimate of ($2.52) by $0.74. The firm had revenue of $1.26 million during the quarter, compared to analyst estimates of $1.20 million. Arcadia Biosciences had a negative net margin of 129.74% and a negative return on equity of 84.27%. During the same quarter last year, the business posted ($3.83) EPS. As a group, sell-side analysts forecast that Arcadia Biosciences will post -2.29 earnings per share for the current year.

About Arcadia Biosciences

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.