Arcadia Biosciences (NASDAQ:RKDA) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a report released on Thursday. The brokerage issued a sell rating on the basic materials company’s stock.

Separately, HC Wainwright reiterated a buy rating and issued a $6.00 target price on shares of Arcadia Biosciences in a research note on Wednesday, August 21st.

Arcadia Biosciences Stock Performance

Arcadia Biosciences stock opened at $2.79 on Thursday. Arcadia Biosciences has a 12 month low of $1.85 and a 12 month high of $4.19. The company’s fifty day simple moving average is $2.87 and its 200-day simple moving average is $2.66.

Arcadia Biosciences (NASDAQ:RKDA) last issued its earnings results on Tuesday, August 13th. The basic materials company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.49). The firm had revenue of $1.31 million during the quarter, compared to analysts’ expectations of $0.95 million. Arcadia Biosciences had a negative net margin of 127.29% and a negative return on equity of 57.51%. During the same quarter last year, the firm earned ($2.64) EPS. On average, analysts forecast that Arcadia Biosciences will post -1.7 EPS 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.