StockNews.com Initiates Coverage on Arcadia Biosciences (NASDAQ:RKDA)

StockNews.com began coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a report released on Friday morning. The firm issued a sell rating on the basic materials company’s stock.

Arcadia Biosciences Stock Performance

Shares of RKDA stock opened at $3.43 on Friday. The firm has a market cap of $4.68 million, a P/E ratio of -0.80 and a beta of 0.86. Arcadia Biosciences has a fifty-two week low of $1.85 and a fifty-two week high of $10.31. The business’s 50 day moving average price is $4.80 and its 200-day moving average price is $4.09.

Institutional Investors Weigh In On Arcadia Biosciences

A hedge fund recently bought a new stake in Arcadia Biosciences stock. Geode Capital Management LLC purchased a new stake in shares of Arcadia Biosciences, Inc. (NASDAQ:RKDA) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 17.73% of the company’s stock.

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.