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

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

Arcadia Biosciences Stock Down 8.9 %

Shares of RKDA opened at $2.67 on Monday. Arcadia Biosciences has a 52-week low of $1.85 and a 52-week high of $10.31. The stock has a fifty day simple moving average of $4.02 and a two-hundred day simple moving average of $4.12. The company has a market capitalization of $3.65 million, a PE ratio of -0.62 and a beta of 0.78.

Hedge Funds Weigh In On Arcadia Biosciences

An institutional investor recently bought a new position in Arcadia Biosciences stock. Geode Capital Management LLC purchased a new position in shares of Arcadia Biosciences, Inc. (NASDAQ:RKDA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,297 shares of the basic materials company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned about 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.