Arcadia Biosciences, Inc. (NASDAQ:RKDA) Sees Large Decline in Short Interest

Arcadia Biosciences, Inc. (NASDAQ:RKDA) saw a significant decline in short interest in October. As of October 15th, there was short interest totalling 17,400 shares, a decline of 19.4% from the September 30th total of 21,600 shares. Based on an average daily volume of 11,100 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.8% of the company’s stock are sold short.

Arcadia Biosciences Stock Performance

Shares of RKDA stock traded up $0.27 during mid-day trading on Monday, hitting $4.97. The company’s stock had a trading volume of 43,839 shares, compared to its average volume of 18,976. Arcadia Biosciences has a 52-week low of $1.85 and a 52-week high of $5.34. The business has a 50-day moving average price of $3.03 and a 200 day moving average price of $2.84. The stock has a market cap of $6.77 million, a price-to-earnings ratio of -0.96 and a beta of 1.34.

Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.49). Arcadia Biosciences had a negative return on equity of 57.51% and a negative net margin of 127.29%. The business had revenue of $1.31 million during the quarter, compared to analysts’ expectations of $0.95 million. During the same quarter in the prior year, the firm earned ($2.64) EPS. Equities research analysts predict that Arcadia Biosciences will post -1.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on RKDA. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Arcadia Biosciences in a research note on Wednesday, August 21st. StockNews.com began coverage on Arcadia Biosciences in a research note on Tuesday, October 22nd. They set a “sell” rating for the company.

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.