Arcadia Biosciences (NASDAQ:RKDA) Upgraded to Hold at ValuEngine

Arcadia Biosciences (NASDAQ:RKDA) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Tuesday, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating on shares of Arcadia Biosciences in a research note on Monday, August 12th. National Securities increased their target price on shares of Arcadia Biosciences from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 15th.

RKDA stock traded down $0.24 during mid-day trading on Tuesday, reaching $4.83. 397,643 shares of the stock traded hands, compared to its average volume of 1,362,237. The company has a quick ratio of 5.09, a current ratio of 5.29 and a debt-to-equity ratio of 0.19. Arcadia Biosciences has a 52 week low of $1.82 and a 52 week high of $10.40. The business has a 50-day moving average of $5.41 and a two-hundred day moving average of $4.96. The firm has a market capitalization of $37.01 million, a PE ratio of -0.90 and a beta of -3.00.

Arcadia Biosciences (NASDAQ:RKDA) last released its quarterly earnings results on Wednesday, August 14th. The basic materials company reported ($0.96) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.08). Arcadia Biosciences had a negative net margin of 388.94% and a negative return on equity of 157.32%. The firm had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.20 million. On average, equities research analysts anticipate that Arcadia Biosciences will post -3.56 EPS for the current fiscal year.

In related news, Director Kevin Comcowich bought 5,000 shares of Arcadia Biosciences stock in a transaction that occurred on Tuesday, September 17th. The stock was acquired at an average price of $5.88 per share, for a total transaction of $29,400.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at $117,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew T. Plavan bought 8,000 shares of Arcadia Biosciences stock in a transaction that occurred on Wednesday, August 28th. The stock was bought at an average price of $8.73 per share, with a total value of $69,840.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 33,200 shares of company stock valued at $227,886. 3.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RKDA. CVI Holdings LLC bought a new stake in shares of Arcadia Biosciences in the second quarter valued at about $414,000. Morgan Stanley lifted its stake in shares of Arcadia Biosciences by 162,800.0% in the second quarter. Morgan Stanley now owns 81,450 shares of the basic materials company’s stock valued at $250,000 after buying an additional 81,400 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Arcadia Biosciences in the second quarter valued at about $34,000. Finally, Citadel Advisors LLC acquired a new position in Arcadia Biosciences in the second quarter worth about $32,000. Institutional investors and hedge funds own 6.58% of the company’s stock.

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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