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

StockNews.com assumed coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note issued to investors on Saturday morning. The firm issued a sell rating on the basic materials company’s stock.

Separately, HC Wainwright reiterated 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 Arcadia Biosciences stock opened at $1.95 on Friday. Arcadia Biosciences has a one year low of $1.85 and a one year high of $7.30. The company has a market cap of $2.65 million, a price-to-earnings ratio of -0.14 and a beta of 0.60. The business’s 50 day moving average price is $2.46 and its 200 day moving average price is $2.79.

Institutional Investors Weigh In On Arcadia Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in Arcadia Biosciences during the fourth quarter worth $34,000. Vanguard Group Inc. acquired a new stake in Arcadia Biosciences during the fourth quarter worth $44,000. Jane Street Group LLC increased its stake in Arcadia Biosciences by 215.8% during the first quarter. Jane Street Group LLC now owns 36,458 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 24,913 shares during the last quarter. Millennium Management LLC acquired a new stake in Arcadia Biosciences during the second quarter worth $25,000. Finally, State Street Corp increased its stake in Arcadia Biosciences by 76.7% during the first quarter. State Street Corp now owns 99,300 shares of the basic materials company’s stock worth $139,000 after acquiring an additional 43,100 shares during the last quarter. Institutional investors and hedge funds own 17.73% of the company’s stock.

Arcadia Biosciences Company Profile

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.