Arcadia Biosciences (NASDAQ:RKDA) Upgraded by ValuEngine to “Sell”

ValuEngine upgraded shares of Arcadia Biosciences (NASDAQ:RKDA) from a strong sell rating to a sell rating in a research note released on Thursday morning, ValuEngine reports.

Separately, HC Wainwright restated a buy rating and set a $14.00 target price on shares of Arcadia Biosciences in a report on Monday, December 23rd.

Shares of NASDAQ RKDA traded down $0.18 during mid-day trading on Thursday, reaching $5.26. 185,897 shares of the company’s stock were exchanged, compared to its average volume of 196,841. The firm has a market capitalization of $45.13 million, a price-to-earnings ratio of -0.98 and a beta of -2.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.27 and a current ratio of 5.58. Arcadia Biosciences has a 52-week low of $1.82 and a 52-week high of $10.40. The company’s 50-day moving average is $5.54 and its 200-day moving average is $4.93.

Arcadia Biosciences (NASDAQ:RKDA) last announced its earnings results on Wednesday, November 6th. The basic materials company reported ($2.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($1.27). Arcadia Biosciences had a negative net margin of 1,938.76% and a negative return on equity of 198.10%. The firm had revenue of $0.39 million for the quarter, compared to analysts’ expectations of $0.31 million. As a group, equities analysts predict that Arcadia Biosciences will post -3.61 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC purchased a new position in Arcadia Biosciences during the 2nd quarter valued at about $32,000. Cambridge Investment Research Advisors Inc. purchased a new position in Arcadia Biosciences during the 2nd quarter valued at about $34,000. Squarepoint Ops LLC purchased a new position in Arcadia Biosciences during the 3rd quarter valued at about $124,000. Sabby Management LLC boosted its stake in shares of Arcadia Biosciences by 150.0% in the 3rd quarter. Sabby Management LLC now owns 50,000 shares of the basic materials company’s stock valued at $234,000 after buying an additional 30,000 shares during the period. Finally, Vanguard Group Inc. boosted 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 buying an additional 37,472 shares during the period. Institutional investors own 7.80% of the company’s stock.

About Arcadia Biosciences

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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