Initiates Coverage on Arcadia Biosciences (NASDAQ:RKDA) initiated coverage on shares of Arcadia Biosciences (NASDAQ:RKDAFree Report) in a research report report published on Wednesday. The brokerage issued a sell rating on the basic materials company’s stock.

A number of other equities research analysts have also recently weighed in on the company. HC Wainwright cut their price target on Arcadia Biosciences from $10.00 to $6.00 and set a buy rating on the stock in a report on Thursday, May 23rd. Lake Street Capital raised Arcadia Biosciences to a strong-buy rating in a report on Tuesday, May 14th.

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Arcadia Biosciences Stock Down 3.9 %

Shares of NASDAQ RKDA opened at $3.05 on Wednesday. The firm’s 50-day moving average price is $2.87 and its two-hundred day moving average price is $2.62. The stock has a market capitalization of $4.15 million, a P/E ratio of -0.59 and a beta of 0.86. Arcadia Biosciences has a 52-week low of $1.85 and a 52-week high of $5.60.

Arcadia Biosciences (NASDAQ:RKDAGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The basic materials company reported ($1.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.52) by $0.74. The company had revenue of $1.26 million for the quarter, compared to analysts’ expectations of $1.20 million. Arcadia Biosciences had a negative return on equity of 84.27% and a negative net margin of 129.74%. During the same quarter in the previous year, the company posted ($3.83) earnings per share. As a group, equities research analysts expect that Arcadia Biosciences will post -2.29 earnings per share for the current year.

Arcadia Biosciences Company Profile

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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.

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