Zacks: Brokerages Expect Arcadia Biosciences Inc (NASDAQ:RKDA) Will Announce Quarterly Sales of $450,000.00

Wall Street brokerages expect that Arcadia Biosciences Inc (NASDAQ:RKDA) will announce $450,000.00 in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Arcadia Biosciences’ earnings, with estimates ranging from $400,000.00 to $500,000.00. Arcadia Biosciences reported sales of $440,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.3%. The business is scheduled to issue its next earnings results on Wednesday, March 25th.

According to Zacks, analysts expect that Arcadia Biosciences will report full year sales of $1.15 million for the current fiscal year, with estimates ranging from $1.10 million to $1.20 million. For the next financial year, analysts forecast that the firm will post sales of $8.55 million, with estimates ranging from $6.30 million to $10.80 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Arcadia Biosciences.

Arcadia Biosciences (NASDAQ:RKDA) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported ($2.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($1.27). Arcadia Biosciences had a negative return on equity of 198.10% and a negative net margin of 1,938.76%. The firm had revenue of $0.39 million for the quarter, compared to analyst estimates of $0.31 million.

A number of equities analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Arcadia Biosciences in a research note on Monday, December 23rd. ValuEngine raised shares of Arcadia Biosciences from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 10th.

A number of hedge funds have recently modified their holdings of RKDA. Citadel Advisors LLC purchased a new stake in shares of Arcadia Biosciences in the second quarter valued at about $32,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Arcadia Biosciences in the second quarter valued at about $34,000. Squarepoint Ops LLC purchased a new stake in shares of Arcadia Biosciences in the third quarter valued at about $124,000. Sabby Management LLC lifted its holdings in shares of Arcadia Biosciences by 150.0% in the third quarter. Sabby Management LLC now owns 50,000 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Arcadia Biosciences by 162,800.0% in the second quarter. Morgan Stanley now owns 81,450 shares of the basic materials company’s stock valued at $250,000 after purchasing an additional 81,400 shares in the last quarter. 7.80% of the stock is owned by hedge funds and other institutional investors.

NASDAQ RKDA traded up $0.22 on Monday, hitting $5.32. 3,409 shares of the company’s stock were exchanged, compared to its average volume of 212,540. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.58 and a quick ratio of 5.27. The firm’s 50-day moving average price is $5.52 and its two-hundred day moving average price is $4.91. Arcadia Biosciences has a fifty-two week low of $1.82 and a fifty-two week high of $10.40. The firm has a market cap of $45.13 million, a price-to-earnings ratio of -0.98 and a beta of -2.94.

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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