Arcadia Biosciences (NASDAQ:RKDA) Posts Earnings Results

Arcadia Biosciences (NASDAQ:RKDA) released its quarterly earnings data on Thursday. The basic materials company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.75, FiscalAI reports. The firm had revenue of $1.62 million for the quarter, compared to analyst estimates of $2.40 million. Arcadia Biosciences had a negative net margin of 234.53% and a negative return on equity of 183.50%.

Arcadia Biosciences Stock Performance

RKDA traded down $0.02 during midday trading on Thursday, reaching $0.22. 2,563,418 shares of the company were exchanged, compared to its average volume of 1,580,528. The company has a market cap of $535,020.00, a price-to-earnings ratio of -0.05 and a beta of 0.63. Arcadia Biosciences has a one year low of $0.11 and a one year high of $3.87. The company’s fifty day moving average price is $0.29 and its 200 day moving average price is $0.94.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Arcadia Biosciences in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Arcadia Biosciences currently has a consensus rating of “Sell”.

Arcadia Biosciences Company Profile

Arcadia Biosciences, Inc. is an agricultural biotechnology company focused on developing and commercializing food ingredients and crop-based products intended to support health and wellness. The company applies plant science and breeding technologies to develop crops with enhanced nutritional characteristics and products designed for consumer and food-industry applications. Its product portfolio has included GoodWheat, a wheat variety developed with increased dietary fiber and other nutritional attributes, as well as GoodHemp, a line of hemp-based food products and ingredients.