Arcadia Biosciences (NASDAQ:RKDA) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note issued on Wednesday. The brokerage set a “sell” rating on the basic materials company’s stock.

Arcadia Biosciences Stock Performance

Shares of RKDA stock opened at $2.97 on Wednesday. Arcadia Biosciences has a fifty-two week low of $1.90 and a fifty-two week high of $10.31. The company has a 50 day moving average price of $3.56 and a 200 day moving average price of $4.12. The stock has a market capitalization of $4.06 million, a P/E ratio of -0.69 and a beta of 0.78.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Arcadia Biosciences stock. Geode Capital Management LLC acquired a new position in shares of Arcadia Biosciences, Inc. (NASDAQ:RKDA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,297 shares of the basic materials company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned approximately 0.90% of Arcadia Biosciences at the end of the most recent quarter. 17.73% of the stock is owned by institutional investors and hedge funds.

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.