Arcadia Biosciences (RKDA) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Arcadia Biosciences (NASDAQ:RKDA) from a sell rating to a hold rating in a research note released on Wednesday.
According to Zacks, “Arcadia Biosciences, Inc. is engaged in developing and commercializing agricultural products primarily in the United States. The Company’s product includes nitrogen use crops, salt tolerant plants, sunflower oil and shelf-life produce. Arcadia Biosciences, Inc. is headquartered in Davis, California. “
Several other equities research analysts have also recently issued reports on the company. HC Wainwright set a $20.00 price objective on Arcadia Biosciences and gave the stock a buy rating in a report on Thursday, July 19th. ValuEngine upgraded Arcadia Biosciences from a strong sell rating to a sell rating in a report on Thursday, August 2nd.
Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings data on Friday, August 10th. The basic materials company reported ($2.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.29) by ($0.73). Arcadia Biosciences had a negative return on equity of 360.93% and a negative net margin of 928.72%. The business had revenue of $0.44 million for the quarter, compared to analyst estimates of $0.20 million. Research analysts anticipate that Arcadia Biosciences will post -8.28 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Arcadia Biosciences stock. Bank of Montreal Can lifted its holdings in shares of Arcadia Biosciences Inc (NASDAQ:RKDA) by 450.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,000 shares of the basic materials company’s stock after purchasing an additional 45,000 shares during the quarter. Bank of Montreal Can owned about 2.22% of Arcadia Biosciences worth $454,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.10% of the company’s stock.
About Arcadia Biosciences
Arcadia Biosciences, Inc, an agricultural food ingredient company, develops and commercializes health and nutrition ingredient traits worldwide. The company offers a suite of agricultural productivity traits, including nitrogen use efficiency, water use efficiency and drought tolerance, salinity tolerance, and herbicide tolerance traits.
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