Arcadia Biosciences Inc. (RKDA) shares are trading at higher $3.50 and the avg recommendation for the stock is Strong Buy.
To add more color to this target, the company’s high over the last year is $6.63 and the low is $2.30. Over the last 52 weeks, RKDA is down -38.81% while the S&P 500 is up 11.54%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, RKDA reported a profit of $-1.21 million. Arcadia Biosciences Inc. also saw revenues decrease to $0.28 million. In addition, RKDA has free cash flow of -$18.3 million as of 06-2020. The company’s EBITDA came in at -$6.51 million which compares well with its peers.
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RKDA Return on Equity (ROE) is -248.70%, and its Return on Assets is -78.90%. All told, it is clear that, RKDA needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. RKDA has a short ratio of 2.41 and outstanding shares of 9.33M.
RKDA has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -3.51. Arcadia Biosciences Inc. RKDA also noted assets of $37.78 million at the end of the last quarter. Investors should also keep an eye on sector updates as RKDA has historically followed its peers on positive news.
All told, Arcadia Biosciences Inc. RKDA has strung together solid data and demonstrated underlying fundamentals. At its current valuation, RKDA represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Arcadia Biosciences Inc. RKDA is now commanding a market cap of 39.27M and a float of 9.06M. RKDA is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of RKDA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in RKDA, either long or short, and we have not been compensated for this article.