Arcadia Biosciences Inc (RKDA) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Arcadia Biosciences Inc (NASDAQ:RKDA) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus target price of $20.00 for the company and are expecting that the company will post ($1.13) EPS for the current quarter, according to Zacks. Zacks has also assigned Arcadia Biosciences an industry rank of 189 out of 255 based on the ratings given to its competitors.

Several brokerages have commented on RKDA. ValuEngine raised shares of Arcadia Biosciences from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research downgraded shares of Arcadia Biosciences from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Arcadia Biosciences in a research note on Wednesday, August 8th.

Several hedge funds have recently modified their holdings of RKDA. Sabby Management LLC bought a new stake in shares of Arcadia Biosciences during the first quarter worth $3,611,000. Bank of Montreal Can increased its position in shares of Arcadia Biosciences by 450.0% during the second quarter. Bank of Montreal Can now owns 55,000 shares of the basic materials company’s stock worth $454,000 after acquiring an additional 45,000 shares in the last quarter. Finally, Ardsley Advisory Partners bought a new stake in shares of Arcadia Biosciences during the second quarter worth $206,000. 8.10% of the stock is owned by institutional investors.

NASDAQ:RKDA traded down $0.03 during trading hours on Friday, hitting $4.74. The stock had a trading volume of 31,385 shares, compared to its average volume of 415,094. Arcadia Biosciences has a one year low of $3.60 and a one year high of $66.56. The company has a market capitalization of $23.34 million, a PE ratio of -0.69 and a beta of -5.58.

Arcadia Biosciences (NASDAQ:RKDA) last issued its earnings results on Friday, August 10th. The basic materials company reported ($2.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.29) by ($0.73). Arcadia Biosciences had a negative net margin of 928.72% and a negative return on equity of 360.93%. The firm had revenue of $0.44 million during the quarter, compared to the consensus estimate of $0.20 million. As a group, equities analysts forecast that Arcadia Biosciences will post -8.28 earnings per share for the current year.

Arcadia Biosciences Company Profile

Arcadia Biosciences, Inc, an agricultural food ingredient company, develops and commercializes health and nutrition ingredient traits worldwide. The company offers a suite of agricultural productivity traits, including nitrogen use efficiency, water use efficiency and drought tolerance, salinity tolerance, and herbicide tolerance traits.

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