Arcadia Biosciences (NASDAQ:RKDA) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research report sent to investors on Saturday morning. The brokerage issued a sell rating on the basic materials company’s stock.

A number of other analysts have also weighed in on the company. Lake Street Capital upgraded Arcadia Biosciences to a strong-buy rating in a report on Tuesday, May 14th. HC Wainwright lowered their target price on Arcadia Biosciences from $10.00 to $6.00 and set a buy rating for the company in a report on Thursday, May 23rd.

Arcadia Biosciences Stock Performance

Shares of NASDAQ RKDA opened at $2.60 on Friday. The firm has a market capitalization of $3.54 million, a price-to-earnings ratio of -0.50 and a beta of 0.86. The stock has a 50 day moving average price of $3.00 and a 200 day moving average price of $2.63. Arcadia Biosciences has a 52-week low of $1.85 and a 52-week high of $4.87.

Arcadia Biosciences (NASDAQ:RKDA) last announced 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. The firm had revenue of $1.26 million during the quarter, compared to analyst estimates of $1.20 million. Arcadia Biosciences had a negative return on equity of 84.27% and a negative net margin of 129.74%. During the same quarter in the previous year, the business earned ($3.83) earnings per share. Analysts forecast that Arcadia Biosciences will post -2.29 earnings per share 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.