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

Research analysts at StockNews.com started coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the basic materials company’s stock.

Separately, HC Wainwright reissued 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 opened at $2.00 on Tuesday. Arcadia Biosciences has a fifty-two week low of $1.85 and a fifty-two week high of $7.30. The firm’s 50-day simple moving average is $2.25 and its two-hundred day simple moving average is $2.68. The stock has a market cap of $2.71 million, a PE ratio of -0.14 and a beta of 0.62.

Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings data on Thursday, March 28th. The basic materials company reported ($2.48) earnings per share for the quarter, beating 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 company had revenue of $1.17 million during the quarter, compared to analyst estimates of $1.80 million. Equities research analysts predict that Arcadia Biosciences will post -5.01 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.