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

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

Separately, Lake Street Capital dropped their target price on shares of Arcadia Biosciences from $80.00 to $20.00 in a research report on Friday, March 31st.

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Arcadia Biosciences Stock Performance

Arcadia Biosciences stock opened at $7.44 on Thursday. The stock has a market capitalization of $6.40 million, a P/E ratio of -0.29 and a beta of 1.00. The company’s fifty day moving average price is $4.21 and its 200 day moving average price is $1.72. Arcadia Biosciences has a 1 year low of $6.69 and a 1 year high of $60.40.

Institutional Trading of Arcadia Biosciences

A number of institutional investors have recently made changes to their positions in the company. Armistice Capital LLC purchased a new position in Arcadia Biosciences in the 3rd quarter valued at $850,000. Susquehanna International Group LLP lifted its stake 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 worth $77,000 after buying an additional 129,811 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Arcadia Biosciences by 444.3% in 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. Renaissance Technologies LLC boosted its position in Arcadia Biosciences by 66.5% during the second quarter. Renaissance Technologies LLC now owns 129,500 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 51,700 shares during the last quarter. Finally, State Street Corp grew its stake in Arcadia Biosciences by 76.7% during the 1st quarter. State Street Corp now owns 99,300 shares of the basic materials company’s stock valued at $139,000 after acquiring an additional 43,100 shares in the last quarter. 13.33% of the stock is owned by institutional investors and hedge funds.

About Arcadia Biosciences

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Arcadia Biosciences, Inc is an agricultural biotechnology company, which engages in the development of agricultural products. It uses screening, breeding, and biotechnology techniques to create agricultural products for consumers, processors, and farmers. Its products include GoodWheat pasta, Zola coconut water, ProVault topical pain relief, and SoulSpring bath and body care.

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