Arcadia Biosciences (NASDAQ:RKDA) Announces Earnings Results

Arcadia Biosciences (NASDAQ:RKDA) released its quarterly earnings results on Tuesday. The basic materials company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.49), Yahoo Finance reports. Arcadia Biosciences had a negative return on equity of 84.27% and a negative net margin of 129.74%. The company had revenue of $1.31 million for the quarter, compared to analysts’ expectations of $0.95 million. During the same period in the previous year, the business posted ($2.64) EPS.

Arcadia Biosciences Price Performance

Arcadia Biosciences stock opened at $2.53 on Thursday. Arcadia Biosciences has a 12 month low of $1.85 and a 12 month high of $4.79. The company has a market cap of $3.44 million, a price-to-earnings ratio of -0.52 and a beta of 0.86. The stock’s 50-day moving average is $2.96 and its 200-day moving average is $2.64.

Wall Street Analyst Weigh In

A number of analysts recently commented on RKDA shares. HC Wainwright dropped their price objective on Arcadia Biosciences from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Lake Street Capital upgraded shares of Arcadia Biosciences to a “strong-buy” rating in a report on Tuesday, May 14th. Finally, StockNews.com began coverage on shares of Arcadia Biosciences in a research note on Sunday. They issued a “sell” rating for the company.

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.