Arcadia Biosciences (NASDAQ:RKDA) Shares Up 5.6%

Arcadia Biosciences Inc (NASDAQ:RKDA)’s stock price shot up 5.6% during mid-day trading on Thursday . The company traded as high as $3.36 and last traded at $3.21, 165,036 shares traded hands during trading. A decline of 66% from the average session volume of 489,240 shares. The stock had previously closed at $3.04.

A number of research firms recently issued reports on RKDA. National Securities reiterated a “buy” rating and set a $35.00 price objective on shares of Calyxt in a report on Thursday, May 9th. HC Wainwright increased their price objective on La Jolla Pharmaceutical from $25.00 to $27.00 and gave the stock a “positive” rating in a report on Thursday, June 6th.

The company has a debt-to-equity ratio of 2.80, a current ratio of 6.26 and a quick ratio of 6.19. The stock has a market cap of $15.36 million, a price-to-earnings ratio of -0.60 and a beta of -1.99. The firm has a fifty day moving average price of $4.09.

Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported ($1.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.63). The firm had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.40 million. Arcadia Biosciences had a negative return on equity of 178.78% and a negative net margin of 1,099.22%. As a group, sell-side analysts forecast that Arcadia Biosciences Inc will post -4.62 EPS for the current fiscal year.

About Arcadia Biosciences (NASDAQ:RKDA)

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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