Arcadia Biosciences (NASDAQ:RKDA) Stock Price Down 7.4%

Arcadia Biosciences Inc (NASDAQ:RKDA) was down 7.4% during mid-day trading on Friday . The stock traded as low as $3.81 and last traded at $3.73. Approximately 9,117 shares changed hands during trading, a decline of 89% from the average daily volume of 80,050 shares. The stock had previously closed at $4.03.

Several equities research analysts have recently issued reports on RKDA shares. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective (down previously from $20.00) on shares of Arcadia Biosciences in a research report on Thursday, June 6th. National Securities started coverage on shares of Arcadia Biosciences in a research report on Wednesday, April 17th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Arcadia Biosciences from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Thursday, February 14th.

The stock has a market capitalization of $17.50 million, a price-to-earnings ratio of -0.68 and a beta of -1.68. The company has a current ratio of 6.26, a quick ratio of 6.19 and a debt-to-equity ratio of 2.80.

Arcadia Biosciences (NASDAQ:RKDA) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.63). Arcadia Biosciences had a negative return on equity of 178.78% and a negative net margin of 1,099.22%. The business had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.40 million. On average, equities analysts forecast that Arcadia Biosciences Inc will post -4.62 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Arcadia Biosciences stock. Vanguard Group Inc purchased a new position in Arcadia Biosciences Inc (NASDAQ:RKDA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,655 shares of the basic materials company’s stock, valued at approximately $91,000. Vanguard Group Inc owned about 0.39% of Arcadia Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC). 4.04% of the stock is currently owned by hedge funds and other institutional investors.

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Arcadia Biosciences Company Profile (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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