Arcadia Biosciences Inc (NASDAQ:RKDA) shares rose 10.2% during mid-day trading on Tuesday . The stock traded as high as $5.99 and last traded at $5.86, approximately 798,518 shares changed hands during mid-day trading. A decline of 36% from the average daily volume of 1,246,799 shares. The stock had previously closed at $5.32.
RKDA has been the subject of several recent research reports. ValuEngine upgraded Arcadia Biosciences from a “strong sell” rating to a “sell” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Arcadia Biosciences in a research note on Monday, December 2nd. Finally, National Securities lifted their price objective on Arcadia Biosciences from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 15th.
The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.27 and a current ratio of 5.58. The firm has a market cap of $46.02 million, a price-to-earnings ratio of -1.10 and a beta of -2.98. The firm has a 50-day moving average price of $4.78 and a two-hundred day moving average price of $4.70.
Arcadia Biosciences (NASDAQ:RKDA) last issued its earnings results on Wednesday, November 6th. The basic materials company reported ($2.04) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($1.27). Arcadia Biosciences had a negative return on equity of 198.10% and a negative net margin of 1,938.76%. The business had revenue of $0.39 million for the quarter, compared to analyst estimates of $0.31 million. Research analysts anticipate that Arcadia Biosciences Inc will post -3.58 earnings per share for the current year.
In other Arcadia Biosciences news, Director Kevin Comcowich bought 5,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average price of $5.88 per share, with a total value of $29,400.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $117,600. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have bought a total of 14,000 shares of company stock worth $69,930 in the last three months. Corporate insiders own 3.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. CVI Holdings LLC acquired a new stake in shares of Arcadia Biosciences during the 2nd quarter worth about $414,000. Vanguard Group Inc. increased its position in Arcadia Biosciences by 47.1% during the second quarter. Vanguard Group Inc. now owns 117,059 shares of the basic materials company’s stock worth $359,000 after buying an additional 37,472 shares during the period. Morgan Stanley increased its position in Arcadia Biosciences by 162,800.0% during the second quarter. Morgan Stanley now owns 81,450 shares of the basic materials company’s stock worth $250,000 after buying an additional 81,400 shares during the period. Sabby Management LLC increased its position in Arcadia Biosciences by 150.0% during the third quarter. Sabby Management LLC now owns 50,000 shares of the basic materials company’s stock worth $234,000 after buying an additional 30,000 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Arcadia Biosciences during the third quarter worth approximately $124,000. 7.80% of the stock is currently owned by institutional investors and hedge funds.
Arcadia Biosciences Company Profile (NASDAQ:RKDA)
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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