Arcadia Biosciences (NASDAQ:RKDA) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research report released on Monday morning, Zacks.com reports.

Several other analysts have also recently weighed in on the company. ValuEngine raised Arcadia Biosciences from a sell rating to a hold rating in a report on Thursday, August 1st. National Securities reissued a buy rating and set a $15.00 price objective on shares of Arcadia Biosciences in a report on Thursday, May 9th.

Shares of NASDAQ:RKDA opened at $8.14 on Monday. The stock has a market capitalization of $38.17 million, a P/E ratio of -1.52 and a beta of -2.01. Arcadia Biosciences has a 1-year low of $1.82 and a 1-year high of $10.40. The company has a current ratio of 6.26, a quick ratio of 6.19 and a debt-to-equity ratio of 2.80. The business has a 50-day moving average price of $3.20 and a two-hundred day moving average price of $5.03.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Arcadia Biosciences by 47.1% in the 2nd quarter. Vanguard Group Inc. now owns 117,059 shares of the basic materials company’s stock valued at $359,000 after acquiring an additional 37,472 shares during the last quarter. Morgan Stanley increased its stake in shares of Arcadia Biosciences by 162,800.0% in the 2nd quarter. Morgan Stanley now owns 81,450 shares of the basic materials company’s stock valued at $250,000 after acquiring an additional 81,400 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Arcadia Biosciences in the 2nd quarter valued at about $34,000. Finally, Citadel Advisors LLC bought a new stake in shares of Arcadia Biosciences in the 2nd quarter valued at about $32,000. 3.11% of the stock is owned by institutional investors.

Arcadia Biosciences Company Profile

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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