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

Research analysts at StockNews.com assumed coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a report issued on Saturday. The firm set a “sell” rating on the basic materials company’s stock.

Separately, HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Arcadia Biosciences in a report on Wednesday, August 21st.

Arcadia Biosciences Stock Performance

Shares of NASDAQ RKDA opened at $2.72 on Friday. The stock has a market capitalization of $3.70 million, a P/E ratio of -0.53 and a beta of 1.34. The stock’s fifty day moving average is $2.82 and its 200 day moving average is $2.68. Arcadia Biosciences has a 52 week low of $1.85 and a 52 week high of $3.93.

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