Arcadia Biosciences (NASDAQ:RKDA) Stock Crosses Below Fifty Day Moving Average of $1.11

Arcadia Biosciences, Inc. (NASDAQ:RKDAGet Rating)’s share price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.11 and traded as low as $0.83. Arcadia Biosciences shares last traded at $0.84, with a volume of 165,742 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RKDA. Lake Street Capital lowered their target price on shares of Arcadia Biosciences from $4.50 to $3.50 in a research note on Thursday, March 31st. StockNews.com upgraded shares of Arcadia Biosciences to a “sell” rating in a research note on Tuesday, May 24th. Finally, HC Wainwright decreased their target price on Arcadia Biosciences from $6.00 to $4.00 in a research note on Monday, April 25th.

Arcadia Biosciences Stock Performance

The stock has a 50 day moving average of $1.11 and a 200 day moving average of $1.15. The stock has a market capitalization of $18.66 million, a P/E ratio of -0.88 and a beta of 0.07.

Arcadia Biosciences (NASDAQ:RKDAGet Rating) last released its quarterly earnings results on Thursday, May 12th. The basic materials company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.10. The business had revenue of $3.22 million during the quarter, compared to analyst estimates of $1.80 million. Arcadia Biosciences had a negative net margin of 231.20% and a negative return on equity of 77.17%. On average, research analysts anticipate that Arcadia Biosciences, Inc. will post -1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcadia Biosciences

Several large investors have recently made changes to their positions in RKDA. State Street Corp grew its holdings in Arcadia Biosciences by 76.7% in the 1st quarter. State Street Corp now owns 99,300 shares of the basic materials company’s stock worth $139,000 after buying an additional 43,100 shares in the last quarter. MYDA Advisors LLC boosted its position in Arcadia Biosciences by 66.7% during the 4th quarter. MYDA Advisors LLC now owns 100,000 shares of the basic materials company’s stock worth $104,000 after acquiring an additional 40,000 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of Arcadia Biosciences by 215.8% in the first quarter. Jane Street Group LLC now owns 36,458 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 24,913 shares in the last quarter. Institutional investors and hedge funds own 10.55% of the company’s stock.

Arcadia Biosciences Company Profile

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Arcadia Biosciences, Inc produces and markets plant-based health and wellness products in the United States. It engages in developing 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, health and wellness products, and their viability for industrial applications.

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