Arcadia Biosciences Inc. [NASDAQ: RKDA] closed the trading session at $10.35 on 03/02/23. The day’s price range saw the stock hit a low of $8.4201, while the highest price level was $18.94. The company report on March 2, 2023 that Arcadia Biosciences (RKDA) Announces $6.0 Million Private Placement Priced at a Premium to Market Under Nasdaq Rules.
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Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a producer and marketer of innovative, plant-based health and wellness products, announced today that it has entered into securities purchase agreements for the purchase and sale of 666,334 shares of its common stock (or common stock equivalents), Series A preferred investment options to purchase up to an aggregate of 666,334 shares of common stock and Series B preferred investment options to purchase up to an aggregate of 666,334 shares of common stock at a purchase price of $9.00 per share of common stock (or common stock equivalent) and associated preferred investment options in a private placement priced at a premium to market under Nasdaq rules.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The stocks have a year to date performance of -4.52 percent and weekly performance of -5.12 percent. The stock has been moved at -68.25 percent over the last six months. The stock has performed -0.37 percent around the most recent 30 days and changed -22.37 percent over the most recent 3-months.
If compared to the average trading volume of 8.60K shares, RKDA reached to a volume of 7492177 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Arcadia Biosciences Inc. [RKDA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RKDA shares is $2.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RKDA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for Arcadia Biosciences Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 17, 2020. The new note on the price target was released on May 12, 2017, representing the official price target for Arcadia Biosciences Inc. stock. Previously, the target price had yet another raise to $10, while Piper Jaffray analysts kept a Overweight rating on RKDA stock.
The Average True Range (ATR) for Arcadia Biosciences Inc. is set at 1.97, with the Price to Sales ratio for RKDA stock in the period of the last 12 months amounting to 24.69. The Price to Book ratio for the last quarter was 10.15.
RKDA stock trade performance evaluation
Arcadia Biosciences Inc. [RKDA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.12. With this latest performance, RKDA shares dropped by -0.37% in over the last four-week period, additionally sinking by -68.25% over the last 6 months – not to mention a drop of -74.63% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RKDA stock in for the last two-week period is set at 45.08, with the RSI for the last a single of trading hit 46.10, and the three-weeks RSI is set at 44.86 for Arcadia Biosciences Inc. [RKDA]. The present Moving Average for the last 50 days of trading for this stock 11.87, while it was recorded at 9.89 for the last single week of trading, and 25.52 for the last 200 days.
Arcadia Biosciences Inc. [RKDA]: An insightful look at the core fundamentals
Arcadia Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.60 and a Current Ratio set at 7.40.
Earnings per share (EPS) analysis for Arcadia Biosciences Inc. [RKDA] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RKDA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Arcadia Biosciences Inc. go to 14.96%.
Arcadia Biosciences Inc. [RKDA]: Insider Ownership positions
There are presently around $1 million, or 13.30% of RKDA stock, in the hands of institutional investors. The top three institutional holders of RKDA stocks are: ARMISTICE CAPITAL, LLC with ownership of 13,437, which is approximately -66.613% of the company’s market cap and around 7.22% of the total institutional ownership; VANGUARD GROUP INC, holding 7,683 shares of the stock with an approximate value of $80000.0 in RKDA stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $73000.0 in RKDA stock with ownership of nearly 85.059% of the company’s market capitalization.
12 institutional holders increased their position in Arcadia Biosciences Inc. [NASDAQ:RKDA] by around 17,046 shares. Additionally, 13 investors decreased positions by around 39,960 shares, while 6 investors held positions by with 2,165 shares. The mentioned changes placed institutional holdings at 59,171 shares, according to the latest SEC report filing. RKDA stock had 7 new institutional investments in for a total of 8,394 shares, while 3 institutional investors sold positions of 680 shares during the same period.