Arcadia Biosciences (NASDAQ:RKDA) Sees Unusually-High Trading Volume

Arcadia Biosciences Inc (NASDAQ:RKDA) saw an uptick in trading volume on Wednesday . 1,000,044 shares changed hands during mid-day trading, an increase of 84% from the previous session’s volume of 544,451 shares.The stock last traded at $5.91 and had previously closed at $4.91.

A number of brokerages have recently weighed in on RKDA. Zacks Investment Research upgraded Arcadia Biosciences from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Thursday, February 14th. National Securities restated a “buy” rating and issued a $15.00 price target on shares of Arcadia Biosciences in a research report on Thursday, May 9th. Finally, HC Wainwright restated a “buy” rating and issued a $14.00 price target (down previously from $20.00) on shares of Arcadia Biosciences in a research report on Thursday, June 6th.

The stock has a market capitalization of $28.24 million, a P/E ratio of -0.70 and a beta of -1.68. The company has a quick ratio of 6.19, a current ratio of 6.26 and a debt-to-equity ratio of 2.80.

Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.63). The company had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.40 million. Arcadia Biosciences had a negative return on equity of 178.78% and a negative net margin of 1,099.22%. As a group, analysts expect that Arcadia Biosciences Inc will post -4.62 earnings per share for the current year.

An institutional investor recently bought a new position in Arcadia Biosciences stock. Vanguard Group Inc acquired a new position in shares of Arcadia Biosciences Inc (NASDAQ:RKDA) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,655 shares of the basic materials company’s stock, valued at approximately $91,000. Vanguard Group Inc owned approximately 0.39% of Arcadia Biosciences at the end of the most recent quarter. 4.04% of the stock is owned by institutional investors and hedge funds.

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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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