Arcadia Biosciences, Inc. (NASDAQ:RKDA) Short Interest Down 31.1% in May

Arcadia Biosciences, Inc. (NASDAQ:RKDA) was the recipient of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 13,300 shares, a drop of 31.1% from the May 15th total of 19,300 shares. Based on an average daily volume of 11,600 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.0% of the shares of the company are short sold.

Arcadia Biosciences Price Performance

NASDAQ RKDA opened at $4.98 on Tuesday. The company has a market cap of $6.81 million, a price-to-earnings ratio of -1.16 and a beta of 0.52. The stock’s fifty day moving average price is $3.97 and its 200 day moving average price is $4.35. Arcadia Biosciences has a 1 year low of $2.40 and a 1 year high of $10.31.

Arcadia Biosciences (NASDAQ:RKDA) last announced its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $2.88. Arcadia Biosciences had a negative return on equity of 52.63% and a negative net margin of 110.61%. The business had revenue of $1.20 million for the quarter, compared to analyst estimates of $1.60 million.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on shares of Arcadia Biosciences in a research report on Sunday, May 18th. They set a “sell” rating on the stock.

Institutional Investors Weigh In On Arcadia Biosciences

A hedge fund recently bought a new stake in Arcadia Biosciences stock. Geode Capital Management LLC acquired a new stake in shares of Arcadia Biosciences, Inc. (NASDAQ:RKDA) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,297 shares of the basic materials company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned 0.90% of Arcadia Biosciences at the end of the most recent quarter. 17.73% of the stock is owned by hedge funds and other institutional investors.

Arcadia Biosciences Company Profile

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.