Separately, HC Wainwright reaffirmed a buy rating and set a $14.00 price objective on shares of Arcadia Biosciences in a research report on Monday, December 23rd.
Shares of RKDA opened at $5.26 on Thursday. Arcadia Biosciences has a fifty-two week low of $1.82 and a fifty-two week high of $10.40. The company has a market capitalization of $45.48 million, a price-to-earnings ratio of -1.32 and a beta of -2.94. The firm has a 50-day simple moving average of $5.54 and a 200-day simple moving average of $4.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.27 and a current ratio of 5.58.
Arcadia Biosciences (NASDAQ:RKDA) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported ($2.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.77) by ($1.27). The company had revenue of $0.39 million during the quarter, compared to analyst estimates of $0.31 million. Arcadia Biosciences had a negative net margin of 1,938.76% and a negative return on equity of 198.10%. Equities research analysts forecast that Arcadia Biosciences will post -3.61 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new position in Arcadia Biosciences in the 2nd quarter valued at $32,000. Cambridge Investment Research Advisors Inc. acquired a new position in Arcadia Biosciences in the 2nd quarter valued at $34,000. Squarepoint Ops LLC acquired a new position in Arcadia Biosciences in the 3rd quarter valued at $124,000. Sabby Management LLC increased its stake in Arcadia Biosciences by 150.0% in the 3rd quarter. Sabby Management LLC now owns 50,000 shares of the basic materials company’s stock valued at $234,000 after buying an additional 30,000 shares during the period. Finally, Morgan Stanley raised its position in Arcadia Biosciences by 162,800.0% during the 2nd quarter. Morgan Stanley now owns 81,450 shares of the basic materials company’s stock worth $250,000 after buying an additional 81,400 shares during the last quarter. 7.80% of the stock is owned by hedge funds and other institutional investors.
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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