Cadiz (NASDAQ:CDZI - Get Free Report) released its earnings results on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02), Zacks reports. The firm had revenue of $4.13 million during the quarter, compared to analysts' expectations of $3.90 million. Cadiz had a negative net margin of 217.49% and a negative return on equity of 97.55%.
Cadiz Trading Down 3.9%
NASDAQ CDZI traded down $0.14 during mid-day trading on Monday, hitting $3.49. The company's stock had a trading volume of 260,200 shares, compared to its average volume of 557,047. Cadiz has a 52-week low of $2.13 and a 52-week high of $5.68. The stock's fifty day simple moving average is $3.09 and its two-hundred day simple moving average is $3.31. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.81 and a quick ratio of 1.55. The firm has a market capitalization of $286.25 million, a P/E ratio of -6.85 and a beta of 1.76.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded shares of Cadiz from a "sell" rating to a "hold" rating in a report on Saturday.
Get Our Latest Stock Analysis on Cadiz
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in CDZI. Bank of America Corp DE lifted its position in shares of Cadiz by 50.2% during the second quarter. Bank of America Corp DE now owns 1,517,751 shares of the company's stock worth $4,538,000 after purchasing an additional 507,449 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cadiz by 19.8% during the second quarter. Geode Capital Management LLC now owns 1,262,379 shares of the company's stock worth $3,775,000 after purchasing an additional 208,830 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Cadiz by 147.0% during the second quarter. Rhumbline Advisers now owns 91,963 shares of the company's stock worth $275,000 after purchasing an additional 54,725 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Cadiz during the second quarter worth $144,000. Finally, AQR Capital Management LLC acquired a new position in shares of Cadiz during the first quarter worth $79,000. 79.75% of the stock is owned by institutional investors and hedge funds.
About Cadiz
(
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Cadiz Inc, together with its subsidiaries, provides water solutions in the United States. The company operates through Land and Water Resources; and Water Filtration Technology segments. It offers water supply, water storage, water conveyance, and water filtration services. In addition, the company is involved in the cultivation of grain crops and alfalfa, as well as provides water filtration solutions for impaired or contaminated groundwater sources.
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