Arcadia Biosciences (NASDAQ:RKDA) Now Covered by StockNews.com

Stock analysts at StockNews.com began coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the basic materials company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Arcadia Biosciences in a research report on Friday, April 5th.

Arcadia Biosciences Trading Down 0.7 %

Shares of NASDAQ:RKDA opened at $1.96 on Friday. The stock has a market capitalization of $2.67 million, a PE ratio of -0.14 and a beta of 0.60. Arcadia Biosciences has a 1 year low of $1.93 and a 1 year high of $7.30. The firm has a fifty day moving average price of $2.48 and a 200 day moving average price of $2.82.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RKDA. Vanguard Group Inc. acquired a new stake in shares of Arcadia Biosciences during the fourth quarter worth approximately $44,000. Virtu Financial LLC acquired a new stake in shares of Arcadia Biosciences during the fourth quarter worth approximately $34,000. Sabby Management LLC acquired a new stake in shares of Arcadia Biosciences during the first quarter worth approximately $395,000. Millennium Management LLC increased its holdings in shares of Arcadia Biosciences by 444.3% during the fourth quarter. Millennium Management LLC now owns 185,438 shares of the basic materials company’s stock worth $50,000 after buying an additional 151,371 shares in the last quarter. Finally, Susquehanna International Group LLP grew its stake in shares of Arcadia Biosciences by 85.1% during the fourth quarter. Susquehanna International Group LLP now owns 282,419 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 129,811 shares during the last quarter. Institutional investors and hedge funds own 17.73% of the company’s stock.

Arcadia Biosciences Company Profile

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.