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

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

Arcadia Biosciences Stock Performance

NASDAQ:RKDA opened at $4.39 on Wednesday. The stock has a 50-day simple moving average of $5.33 and a 200-day simple moving average of $3.99. The stock has a market cap of $5.97 million, a P/E ratio of -1.03 and a beta of 0.88. Arcadia Biosciences has a 1 year low of $1.85 and a 1 year high of $10.31.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Arcadia Biosciences stock. Geode Capital Management LLC acquired a new position in shares of Arcadia Biosciences, Inc. (NASDAQ:RKDA) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor 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 SEC. Hedge funds and other institutional investors own 17.73% of the company’s stock.

Arcadia Biosciences Company Profile

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.