H.C. Wainwright maintained its Arcadia Biosciences Inc. [RKDA] rating to the equivalent of a Buy but changed the price target to $8 from $10, in a research note dated Dec 28, 2020. That figure represents around a 67.75% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with H.C. Wainwright’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in mid August. Meanwhile, Piper Jaffray had lowered its rating on RKDA to “Neutral” from the earlier “an Overweight”, in a research note produced for clients May 12, 2017. In addition, there was a new coverage from Piper Jaffray on June 09, 2015. The research firm rated RKDA “an Overweight”.
Is Arcadia Biosciences Inc. [NASDAQ:RKDA] a Good Buy Right Now?
It should be noted that RKDA technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Sell. The average signal changed from 96% Sell in the last week and compares with 64% Sell in the past month. Data from Arcadia Biosciences Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.41 million shares in the past 20 days and the short term average signal indicates a 100% Sell. In the last 50 days, the average trading volume was 0.24 million shares while the medium term average advocated for 100% Sell. The average long-term signal stands at 100% Sell and the 100-day average volume stands at 0.25 million shares.
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RKDA Price Performance
On Wall Street, Arcadia Biosciences Inc. [NASDAQ:RKDA] finished Thursday’s session down -1.15% at $2.58. The stock went up to $2.64 at the same session while its lowest single day price was $2.53. In the last five days, it saw a fall of about -11.95%, Arcadia Biosciences Inc. shares dropped by almost -52.92% since the beginning of the year. However, the share price has dropped to as low as -61.09% below its one year high. On 01/30/20, the company shares recorded $6.48, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/23/20, the same year at $2.30. The company’s shares have declined by -58.49% in the past year. The 50-day SMA achieved is $3.08 while the 200-day SMA is $3.42. Volume dropped to 0.21 million from 0.34 million in the previous session.
RKDA Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 2.53 level, and in case of violation of this particular level, it will cause more drop to 2.47 level. On the upper level, 2.69 is still the key resistance. The stock may increase to the subsequent resistance at 2.64. The Relative Strength Index (RSI) pinned on the 14-day chart is 35.07, implying a neutral technical stance while the MACD stands at -0.25, meaning price will decrease in the next trading period. Percent R indicator moved to 77.36%, implying bearish price movement. Stochastic %K at 25.79% suggest selling the stock.
What is the short interest in Arcadia Biosciences Inc.?
Short interest in the Arcadia Biosciences Inc. stock has surged, increasing by 0.1 million shares to total 96780.0 shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.2 million, data from Yahoo Finance shows. The decrease of -106.93% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.00% of the overall float for the stock.
Arcadia Biosciences Inc.’s Biggest Shareholders: Who Owns Arcadia Biosciences Inc. [RKDA]?
Filings by Sabby Capital LLC showed that the firm now holds a total of 275,123 shares or roughly 2.54% of the outstanding RKDA shares. This means their shares have increased by 215,580 from the 275,123 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $853,789. Details in the latest 13F filings reveal that Anson Advisors, Inc. disposed off their -55.27% stake valued at $788,431. During the last quarter, Anson Advisors, Inc. liquidated -292,574 of its shares in Arcadia Biosciences Inc. while GSA Capital Partners LLP bought 100,955 shares. The Geode Capital Management LLC’s holdings currently number 49,105 shares at $126690.9. According to the firm’s last 13F report, Ardsley Advisory Partners LP shares in the company at filing stood at 25,000 shares, roughly $83,250.
RKDA Earnings Forecast For The Current Quarter
Arcadia Biosciences Inc. [RKDA] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.09M and an earnings per share of -$0.46 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.67M at an EPS of -$0.41 for Mar 2021. The estimates represent upside of 509.00% and 33.20% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
RKDA Earnings Estimates For The Current Year
For the financial year, Arcadia Biosciences Inc. [NASDAQ:RKDA] is expected to bring in revenue of $1.99M. The returns are nearly $0.82 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -2.17, higher than that of FY19 by $2.36. Estimates put this year’s earnings growth at 52.10%, 33.20% for the next, and at an annual 14.96% over the next 5-year period. As for sales, forecasts are for an increase of 70.20% in the current fiscal year and a further 509.00% over the following year.