Analysts expect Arcadia Biosciences, Inc. (NASDAQ:RKDA) to announce sales of $970,000.00 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Arcadia Biosciences’ earnings, with the highest sales estimate coming in at $1.52 million and the lowest estimate coming in at $410,000.00. Arcadia Biosciences posted sales of $390,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 148.7%. The company is expected to announce its next earnings results on Wednesday, November 4th.
According to Zacks, analysts expect that Arcadia Biosciences will report full year sales of $3.94 million for the current fiscal year, with estimates ranging from $2.23 million to $5.65 million. For the next fiscal year, analysts expect that the company will post sales of $13.08 million, with estimates ranging from $9.80 million to $16.35 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Arcadia Biosciences.
Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings data on Thursday, August 13th. The basic materials company reported ($0.71) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.10). The business had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $1.54 million. Arcadia Biosciences had a negative net margin of 1,973.82% and a negative return on equity of 175.11%.
Shares of RKDA traded down $0.02 during trading hours on Wednesday, hitting $3.21. 20,180 shares of the stock were exchanged, compared to its average volume of 225,506. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.07 and a current ratio of 3.12. Arcadia Biosciences has a 12-month low of $2.30 and a 12-month high of $6.63. The company has a market cap of $34.35 million, a price-to-earnings ratio of -0.91 and a beta of -0.58. The stock’s 50-day moving average price is $3.02 and its two-hundred day moving average price is $3.57.
Several institutional investors and hedge funds have recently modified their holdings of RKDA. Morgan Stanley grew its holdings in Arcadia Biosciences by 28.2% in the 1st quarter. Morgan Stanley now owns 13,878 shares of the basic materials company’s stock valued at $40,000 after buying an additional 3,052 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Arcadia Biosciences by 263.2% in the 1st quarter. Wells Fargo & Company MN now owns 16,343 shares of the basic materials company’s stock valued at $46,000 after buying an additional 11,843 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Arcadia Biosciences in the 2nd quarter valued at $50,000. Virtu Financial LLC purchased a new stake in Arcadia Biosciences in the 2nd quarter valued at $113,000. Finally, Sabby Management LLC purchased a new stake in Arcadia Biosciences in the 2nd quarter valued at $224,000. Hedge funds and other institutional investors own 4.89% of the company’s stock.
About Arcadia Biosciences
Arcadia Biosciences, Inc, a consumer-driven agricultural technology company, engages in developing various crop productivity traits primarily in hemp, wheat, and soybean. The company's crop productivity traits are designed to enhance farm economics by improving the performance of crops in the field, as well as their value as food ingredients, health and wellness products, and their viability for industrial applications.
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