Arcadia Biosciences (NASDAQ:RKDA) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reissued their buy rating on shares of Arcadia Biosciences (NASDAQ:RKDA) in a report released on Monday morning, TipRanks reports. The firm currently has a $14.00 target price on the basic materials company’s stock.

RKDA has been the topic of a number of other reports. National Securities boosted their price objective on shares of Arcadia Biosciences from $12.00 to $20.00 and gave the company a buy rating in a report on Thursday, August 15th. ValuEngine downgraded Arcadia Biosciences from a sell rating to a strong sell rating in a research report on Wednesday, November 27th.

Shares of Arcadia Biosciences stock opened at $5.53 on Monday. The company has a 50 day moving average price of $4.74 and a 200 day moving average price of $4.68. The company has a quick ratio of 5.27, a current ratio of 5.58 and a debt-to-equity ratio of 0.11. Arcadia Biosciences has a 52 week low of $1.82 and a 52 week high of $10.40.

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 Zacks’ consensus estimate of ($0.77) by ($1.27). The company had revenue of $0.39 million for 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%. On average, equities analysts predict that Arcadia Biosciences will post -3.56 EPS for the current year.

In other news, Director Kevin Comcowich acquired 5,000 shares of Arcadia Biosciences stock in a transaction dated Tuesday, September 17th. The stock was purchased at an average cost of $5.88 per share, for a total transaction of $29,400.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $117,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders bought 32,200 shares of company stock worth $188,076 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Arcadia Biosciences by 47.1% in the second quarter. Vanguard Group Inc. now owns 117,059 shares of the basic materials company’s stock valued at $359,000 after buying an additional 37,472 shares during the last quarter. Morgan Stanley increased its holdings in Arcadia Biosciences by 162,800.0% in 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 period. Citadel Advisors LLC purchased a new position in Arcadia Biosciences during the 2nd quarter worth approximately $32,000. Cambridge Investment Research Advisors Inc. purchased a new position in Arcadia Biosciences during the 2nd quarter worth approximately $34,000. Finally, CVI Holdings LLC acquired a new stake in Arcadia Biosciences during the 2nd quarter valued at approximately $414,000. 8.03% of the stock is owned by hedge funds and other 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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