Time to Buy Arcadia Biosciences Inc (RKDA) After The Completion of This Bullish Descending Triangle Pattern?

October 13, 2017 - By Richard Conner

The stock of Arcadia Biosciences Inc (RKDA) formed a descending triangle with $0.40 target or 6.00 % above today’s $0.38 share price. The 8 months triangle pattern indicates low risk for the $16.22M company. If the $0.40 price target is reached, the company will be worth $973,200 more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

About 57,681 shares traded. Arcadia Biosciences Inc (NASDAQ:RKDA) has declined 43.32% since October 13, 2016 and is downtrending. It has underperformed by 60.02% the S&P500.

Wall Street await Arcadia Biosciences Inc (NASDAQ:RKDA) to release earnings on November, 9. Analysts forecast EPS of $-0.08, up exactly $0.01 or 11.11 % from 2014’s $-0.09 EPS. After posting $-0.09 EPS for the previous quarter, Arcadia Biosciences Inc’s analysts now forecast -11.11 % EPS growth.

Arcadia Biosciences Inc (NASDAQ:RKDA) Ratings Coverage

Among 2 analysts covering Arcadia Biosciences (NASDAQ:RKDA), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. Arcadia Biosciences had 2 analyst reports since May 12, 2017 according to SRatingsIntel. The stock of Arcadia Biosciences Inc (NASDAQ:RKDA) has “Neutral” rating given on Friday, May 12 by PiperJaffray. Piper Jaffray maintained it with “Hold” rating and $100 target in Friday, July 21 report.

More notable recent Arcadia Biosciences Inc (NASDAQ:RKDA) news were published by: Bizjournals.com which released: “Arcadia Biosciences hires former Cesca CEO as chief financial officer” on September 08, 2016, also Bizjournals.com with their article: “Davis biosciences firm names Monsanto veteran as CEO” published on May 10, 2016, Reuters.com published: “BRIEF-Arcadia Biosciences terminates chief legal officer’s job” on December 07, 2016. More interesting news about Arcadia Biosciences Inc (NASDAQ:RKDA) were released by: Bizjournals.com and their article: “Arcadia Biosciences CEO steps down to focus on medical recovery” published on February 11, 2016 as well as Businesswire.com‘s news article titled: “Arcadia Biosciences To Accelerate Agricultural Trait Development with CRISPR-Cas9” with publication date: September 11, 2017.

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