Arcadia Biosciences Inc. (RKDA) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector halfway through the trading day. At the lunch break, shares of RKDA have fallen 3.86% to $1.99 after closing the day prior at $2.07. So far, the stock has traded as high as $2.08 and as low as $1.99. Today’s decline has come with about 8,892 shares changing hands, compared to an average 30-day volume of 32,878 for Arcadia Biosciences Inc.. The price is currently below the 30-day volume weighted average price of $2.02 for RKDA.
The share depreciation gives the company a market capitalization of $91.95 million based upon 44.42 million shares outstanding. It also means that RKDA has a price-to-book ratio of 2.94:1.
In the past 52 weeks, shares of RKDA have traded as low as $1.1 and as high as $4.82. Technical traders will take note that at $1.99, shares of RKDA are trading below their 200-day MA at $2.42 and below their 50-day MA at $2.2. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is RKDA?
Arcadia Biosciences Inc is an agricultural biotechnology trait development company with diversified portfolio of late-stage crop productivity and product quality traits addressing multiple crops that supply the food and feed markets. The company’s 80 employees are led by CEO Rajendra Dinkar Ketkar from the corporate headquarters at 202 Cousteau Place in Davis, CA.
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