Arcadia Biosciences (NASDAQ:RKDA) spotted trading -5.29% off 52-week high price. On the other end, the stock has been noted 441.21% away from the low price over the last 52-weeks. The stock changed 52.24% to recent value of $9.85. The stock transacted 22715910 shares during most recent day however it has an average volume of 2441.39K shares. The company has 6.37M of outstanding shares and 4.68M shares were floated in the market.
On Aug. 26, 2019, Arcadia Biosciences (NASDAQ:RKDA) a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, released that Raj Ketkar, president and CEO, will retire effective September 1, 2019. In line with its succession plan, the board has appointed Matthew Plavan to chief executive officer and member of the board of directors. Plavan is succeeded by Pam Haley as Arcadia’s new chief financial officer.
I am thankful to the board and the team at Arcadia for their support during my tenure at Arcadia said Ketkar. I wish Arcadia the best in its journey to continued success.
I personally, and on behalf of the Board, want to thank Raj for his leadership at Arcadia, said Kevin Comcowich, chairman of the board. Raj has built a strong executive team and robust commercial capabilities, eaving Arcadia well positioned to execute the commercialization of our product portfolio.
Added Comcowich, We are pleased to welcome Raj’s successor, Matt Plavan, to the board and appoint him CEO of Arcadia. During his tenure with the company, Matt has proven to be a strong, dynamic and innovative leader. We are confident he is the right person to lead this next phase of Arcadia’s transition from an R&D focused company to one with growing commercial sales.
Since joining the company in 2016 as chief financial officer, Plavan has played an instrumental role in shifting the company’s focus towards crop innovation and commercialization. In February, he was named president of Arcadia’s new strategic business unit devoted to hemp, Arcadia Specialty Genomics.
Plavan is an accomplished senior executive with more than 30 years of successful leadership experience in public and private companies within the ag-tech, cell-therapy and healthcare industries. Prior to joining Arcadia in 2016, he served as CEO and board member at Cesca Therapeutics. Plavan holds a Bachelor of Arts in Business Economics from University of California at Santa Barbara and is a certified public accountant.
I am grateful to the board for this opportunity and honored to lead such an exceptional organization of scientists, strategists and innovators, said Plavan. I look forward to working with this talented team to achieve large-scale commercialization of our signature nutritional ingredient, GoodWheat™, and accelerate our vertically-integrated hemp seed, cultivation and extraction operations in Hawaii and other legal U.S. markets.
Its earnings per share (EPS) expected to touch remained 50.90% for this year while earning per share for the next 5-years is expected to reach at 14.96%. RKDA has a gross margin of 57.30%.
According to the most recent quarter its current ratio was 5.3 that represents company’s ability to meet its current financial obligations. The price moved ahead of 119.06% from the mean of 20 days, 165.66% from mean of 50 days SMA and performed 108.58% from mean of 200 days price. Company’s performance for the week was 61.74%, 258.18% for month and YTD performance remained 210.73%.
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