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

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

Several other research analysts also recently commented on RKDA. Lake Street Capital raised shares of Arcadia Biosciences to a strong-buy rating in a research note on Tuesday, May 14th. HC Wainwright dropped their price objective on shares of Arcadia Biosciences from $10.00 to $6.00 and set a buy rating on the stock in a research note on Thursday, May 23rd.

Arcadia Biosciences Price Performance

Arcadia Biosciences stock opened at $2.66 on Friday. The firm’s 50 day moving average price is $3.03 and its 200-day moving average price is $2.63. Arcadia Biosciences has a 1 year low of $1.85 and a 1 year high of $5.17. The stock has a market cap of $3.63 million, a P/E ratio of -0.52 and a beta of 0.86.

Arcadia Biosciences (NASDAQ:RKDA) last released its quarterly earnings results on Thursday, May 9th. The basic materials company reported ($1.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.26 million for the quarter, compared to the consensus estimate of $1.20 million. During the same quarter in the prior year, the firm earned ($3.83) earnings per share. As a group, equities analysts expect that Arcadia Biosciences will post -2.29 EPS for the current 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.