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

StockNews.com assumed coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a report released on Friday. The brokerage issued a sell rating on the basic materials company’s stock.

Arcadia Biosciences Trading Down 1.6 %

Shares of NASDAQ RKDA opened at $3.43 on Friday. The stock has a market cap of $4.68 million, a price-to-earnings ratio of -0.80 and a beta of 0.86. Arcadia Biosciences has a 1-year low of $1.85 and a 1-year high of $10.31. The stock’s 50-day moving average is $4.80 and its 200 day moving average is $4.09.

Hedge Funds Weigh In On Arcadia Biosciences

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

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.