Arcadia Biosciences (RKDA) Shares Gap Up to $10.80

Shares of Arcadia Biosciences (NASDAQ:RKDA) gapped up before the market opened on Wednesday . The stock had previously closed at $12.25, but opened at $10.80. Arcadia Biosciences shares last traded at $11.10, with a volume of 11760 shares changing hands.

RKDA has been the subject of several recent analyst reports. ValuEngine downgraded Arcadia Biosciences from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 25th. Piper Jaffray set a $20.00 target price on Arcadia Biosciences and gave the company a “hold” rating in a research note on Wednesday, March 14th.

The company has a market cap of $27.52 million, a price-to-earnings ratio of -1.46 and a beta of -5.70.

Arcadia Biosciences (NASDAQ:RKDA) last announced its earnings results on Wednesday, May 9th. The basic materials company reported ($4.86) earnings per share for the quarter. The business had revenue of $0.21 million for the quarter. Arcadia Biosciences had a negative net margin of 686.10% and a negative return on equity of 259.46%.

In related news, VP Zhongjin Lu sold 1,750 shares of Arcadia Biosciences stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $32.74, for a total value of $57,295.00. Following the completion of the transaction, the vice president now directly owns 2,308 shares in the company, valued at $75,563.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric J. Rey sold 21,255 shares of Arcadia Biosciences stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $45.38, for a total value of $964,551.90. Following the completion of the transaction, the director now owns 28,340 shares of the company’s stock, valued at $1,286,069.20. The disclosure for this sale can be found here. Insiders sold 28,005 shares of company stock valued at $1,189,047 over the last quarter. Insiders own 25.90% of the company’s stock.

A hedge fund recently raised its stake in Arcadia Biosciences stock. Renaissance Technologies LLC increased its position in Arcadia Biosciences (NASDAQ:RKDA) by 294.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 552,600 shares of the basic materials company’s stock after purchasing an additional 412,400 shares during the period. Renaissance Technologies LLC owned 25.94% of Arcadia Biosciences worth $152,000 at the end of the most recent reporting period. 31.48% of the stock is owned by hedge funds and other institutional investors.

About Arcadia Biosciences

Arcadia Biosciences, Inc, an agricultural food ingredient company, develops and commercializes health and nutrition ingredient traits worldwide. The company offers a suite of agricultural productivity traits, including nitrogen use efficiency, water use efficiency and drought tolerance, salinity tolerance, and herbicide tolerance traits.

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