Stock analysts at StockNews.com assumed coverage on shares of Arcadia Biosciences (NASDAQ:RKDA – Get Free Report) in a report issued on Monday. The brokerage set a “sell” rating on the basic materials company’s stock.
Separately, HC Wainwright dropped their target price on Arcadia Biosciences from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 28th.
Arcadia Biosciences Price Performance
Arcadia Biosciences (NASDAQ:RKDA – Get Free Report) last released its quarterly earnings data on Thursday, August 10th. The basic materials company reported ($2.64) EPS for the quarter, beating the consensus estimate of ($4.92) by $2.28. Arcadia Biosciences had a negative return on equity of 73.91% and a negative net margin of 279.74%. The company had revenue of $1.39 million for the quarter, compared to analyst estimates of $1.43 million. Equities analysts anticipate that Arcadia Biosciences will post -7.27 EPS for the current year.
Institutional Trading of Arcadia Biosciences
Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its holdings in Arcadia Biosciences by 444.3% in the fourth quarter. Millennium Management LLC now owns 185,438 shares of the basic materials company’s stock valued at $50,000 after buying an additional 151,371 shares during the last quarter. Susquehanna International Group LLP increased its holdings in Arcadia Biosciences by 85.1% in the fourth quarter. Susquehanna International Group LLP now owns 282,419 shares of the basic materials company’s stock valued at $77,000 after buying an additional 129,811 shares during the last quarter. Sabby Management LLC bought a new stake in Arcadia Biosciences in the first quarter valued at about $395,000. Renaissance Technologies LLC increased its holdings in Arcadia Biosciences by 66.5% in the second quarter. Renaissance Technologies LLC now owns 129,500 shares of the basic materials company’s stock valued at $130,000 after buying an additional 51,700 shares during the last quarter. Finally, State Street Corp increased its holdings in Arcadia Biosciences by 76.7% in the first quarter. State Street Corp now owns 99,300 shares of the basic materials company’s stock valued at $139,000 after buying an additional 43,100 shares during the last quarter. 12.61% of the stock is owned by hedge funds and other institutional investors.
About Arcadia Biosciences
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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