HC Wainwright Reiterates “Buy” Rating for Arcadia Biosciences (NASDAQ:RKDA)

HC Wainwright reiterated their buy rating on shares of Arcadia Biosciences (NASDAQ:RKDA) in a report issued on Wednesday morning, Benzinga reports. HC Wainwright currently has a $6.00 target price on the basic materials company’s stock. HC Wainwright also issued estimates for Arcadia Biosciences’ Q3 2024 earnings at ($0.77) EPS, Q4 2024 earnings at ($0.50) EPS, FY2024 earnings at ($1.70) EPS, Q1 2025 earnings at ($0.37) EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at ($0.09) EPS and FY2025 earnings at $0.12 EPS.

Several other research firms also recently weighed in on RKDA. StockNews.com started coverage on shares of Arcadia Biosciences in a research report on Monday, August 19th. They issued a sell rating on the stock. Lake Street Capital upgraded Arcadia Biosciences to a strong-buy rating in a research report on Tuesday, May 14th.

Arcadia Biosciences Trading Up 0.7 %

NASDAQ:RKDA opened at $2.83 on Wednesday. The company has a 50 day simple moving average of $2.92 and a two-hundred day simple moving average of $2.65. The company has a market cap of $3.85 million, a PE ratio of -0.55 and a beta of 0.86. Arcadia Biosciences has a 12 month low of $1.85 and a 12 month high of $4.79.

Arcadia Biosciences (NASDAQ:RKDA) last posted its earnings results on Tuesday, August 13th. The basic materials company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.49). The firm had revenue of $1.31 million during the quarter, compared to the consensus estimate of $0.95 million. Arcadia Biosciences had a negative net margin of 127.29% and a negative return on equity of 57.51%. During the same period in the prior year, the company posted ($2.64) EPS. Research analysts forecast that Arcadia Biosciences will post -2.29 earnings per share for the current year.

About Arcadia Biosciences

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.