Analyst Sees Huge Upside For Arcadia Biosciences Stock

RDKA has been prone to making big moves this year

Jun 19, 2018 at 9:32 AM
facebook X logo linkedin


Agricultural biotech Arcadia Biosciences Inc (NASDAQ:RKDA) is again making a big move on the charts, after receiving its first analyst recommendation since going public roughly three years ago. H.C. Wainwright initiated coverage on RKDA stock with a "buy" rating and a stunning $20 price target, meaning it expects the shares to more than double, as they closed Monday at $8.16. The analyst in coverage suggested there are a number of potential catalysts that could boost RKDA, including the company's wheat program.

While the $20 price target certainly seems ambitious, it's far from uncharted territory for the security. In fact, Arcadia traded as high as $66.56 back in March, following the positive results for its wheat program. Since then it's struggled to gain upside momentum, however, hitting a near-term low of $7.31 about a month ago. In today's trading, RKDA shares are up 5.4% at $8.60.

But despite the stock's depressed price -- its 14-day Relative Strength Index (RSI) was 33 at yesterday's close -- many traders continue to bet against it. That's based on a dramatic 278.4% surge in short interest during the last two reporting periods. In fact, short interest on Arcadia Biosciences stock is at an all-time high.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI