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

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

Separately, HC Wainwright restated a buy rating and set a $10.00 price objective on shares of Arcadia Biosciences in a research report on Friday, April 5th.

Arcadia Biosciences Stock Performance

Shares of RKDA stock opened at $2.06 on Friday. Arcadia Biosciences has a 52-week low of $1.85 and a 52-week high of $7.30. The firm has a market capitalization of $2.81 million, a PE ratio of -0.14 and a beta of 0.60. The stock has a fifty day simple moving average of $2.41 and a two-hundred day simple moving average of $2.75.

Arcadia Biosciences (NASDAQ:RKDA) last issued its quarterly earnings results on Thursday, March 28th. The basic materials company reported ($2.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.68) by $0.20. Arcadia Biosciences had a negative return on equity of 81.56% and a negative net margin of 246.80%. The business had revenue of $1.17 million during the quarter, compared to analyst estimates of $1.80 million. On average, sell-side analysts forecast that Arcadia Biosciences will post -5.01 EPS for the current fiscal 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.