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

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

Separately, HC Wainwright reiterated a buy rating and issued a $10.00 target price on shares of Arcadia Biosciences in a research note on Friday, April 5th.

Arcadia Biosciences Stock Down 3.6 %

Shares of NASDAQ RKDA opened at $1.89 on Friday. Arcadia Biosciences has a 52 week low of $1.85 and a 52 week high of $7.30. The business’s 50 day moving average price is $2.47 and its 200 day moving average price is $2.80. The firm has a market cap of $2.58 million, a P/E ratio of -0.13 and a beta of 0.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in shares of Arcadia Biosciences in the fourth quarter worth approximately $44,000. Virtu Financial LLC acquired a new stake in Arcadia Biosciences during the 4th quarter worth $34,000. Sabby Management LLC acquired a new stake in Arcadia Biosciences during the 1st quarter worth $395,000. Millennium Management LLC grew its holdings in shares of Arcadia Biosciences by 444.3% during the fourth quarter. Millennium Management LLC now owns 185,438 shares of the basic materials company’s stock worth $50,000 after buying an additional 151,371 shares in the last quarter. Finally, Susquehanna International Group LLP raised its position in shares of Arcadia Biosciences by 85.1% in the fourth quarter. Susquehanna International Group LLP now owns 282,419 shares of the basic materials company’s stock valued at $77,000 after buying an additional 129,811 shares during the last quarter. 17.73% of the stock is owned by hedge funds and other 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.