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

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

Arcadia Biosciences Stock Down 1.4 %

RKDA stock opened at $3.11 on Friday. The company has a 50-day simple moving average of $4.30 and a 200 day simple moving average of $4.12. The company has a market capitalization of $4.24 million, a P/E ratio of -0.73 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.

Institutional Inflows and Outflows

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