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

StockNews.com began coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note issued to investors on Tuesday. The brokerage issued a sell rating on the basic materials company’s stock.

Arcadia Biosciences Price Performance

Shares of Arcadia Biosciences stock opened at $4.81 on Tuesday. Arcadia Biosciences has a one year low of $1.85 and a one year high of $10.31. The firm has a market capitalization of $6.54 million, a price-to-earnings ratio of -1.12 and a beta of 0.88. The business has a 50-day simple moving average of $5.48 and a 200 day simple moving average of $3.93.

Institutional Trading of Arcadia Biosciences

A hedge fund recently bought a new stake in Arcadia Biosciences stock. Geode Capital Management LLC acquired a new position in shares of Arcadia Biosciences, Inc. (NASDAQ:RKDA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 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 filing with the Securities and Exchange Commission. 17.73% of the stock is owned by institutional investors and hedge funds.

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.