BofA update shows where active managers are putting money
Arcadia Biosciences , Inc. (NASDAQ:RKDA) Chief Executive Officer Thomas J. Schaefer recently acquired 700 shares of the company’s common stock. The stock, currently trading at $4.80, has shown remarkable momentum with an 85% gain over the past six months, according to InvestingPro data. This purchase, made on February 3, 2025, was valued at approximately $1,743, with each share priced at $2.49. The acquisition was conducted under the company’s 2015 Employee Stock Purchase Plan, which allows employees to buy shares at a discount. Following this transaction, Schaefer holds a total of 2,819 shares in the company. While the company maintains strong liquidity with a current ratio of 4.6 and holds more cash than debt, InvestingPro analysis suggests the stock is currently undervalued, with 12 additional key insights available to subscribers.
In other recent news, Arcadia Biosciences reported an 18% year-over-year increase in third-quarter revenues, reaching approximately $1.5 million. This growth was primarily fueled by a 55% surge in sales of Zola Coconut Water, which now accounts for 86% of total revenues. The company’s financial health showed signs of improvement with a decrease in cash usage to $1.5 million, the lowest since the company went public.
Despite facing some challenges, including a $150,000 write-down related to its legacy businesses, Arcadia has seen positive developments. The company’s gross margins are expected to stabilize around 33%, and Zola’s retail distribution grew by 68% year-over-year. Moreover, Arcadia is preparing for a new product launch in the 2025 beverage season.
However, the company faced a decrease in cash and short-term investments, down from $8.1 million in Q2 to $6.6 million. Severance and transition costs following the sale of GoodWheat also contributed to a rise in expenses. Despite these challenges, these are recent developments in Arcadia Biosciences’ ongoing journey.
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