Arcadia Biosciences, Inc. (NASDAQ:RKDA) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.80 and traded as low as $2.40. Arcadia Biosciences shares last traded at $2.46, with a volume of 462,389 shares trading hands.
Separately, HC Wainwright cut their price target on shares of Arcadia Biosciences from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, February 9th.
The stock has a market cap of $52.49 million, a P/E ratio of -1.19 and a beta of -0.62. The firm’s 50-day moving average is $2.80 and its two-hundred day moving average is $3.02. The company has a quick ratio of 1.40, a current ratio of 2.52 and a debt-to-equity ratio of 0.21.
A number of hedge funds have recently made changes to their positions in RKDA. LPL Financial LLC grew its stake in shares of Arcadia Biosciences by 47.2% in the third quarter. LPL Financial LLC now owns 22,750 shares of the basic materials company’s stock worth $64,000 after acquiring an additional 7,300 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Arcadia Biosciences by 60.5% during the fourth quarter. Wells Fargo & Company MN now owns 31,057 shares of the basic materials company’s stock worth $78,000 after buying an additional 11,704 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Arcadia Biosciences by 26.8% during the fourth quarter. GSA Capital Partners LLP now owns 128,039 shares of the basic materials company’s stock worth $324,000 after buying an additional 27,084 shares in the last quarter. Institutional investors own 8.03% of the company’s stock.
About Arcadia Biosciences (NASDAQ:RKDA)
Arcadia Biosciences, Inc, a consumer-driven agricultural technology company, engages in developing various crop productivity traits primarily in hemp, wheat, and soybean. The company's crop productivity traits are designed to enhance farm economics by improving the performance of crops in the field, as well as their value as food ingredients, health and wellness products, and their viability for industrial applications.
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