Cadiz (NASDAQ:CDZI) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Cadiz (NASDAQ:CDZI) reported a quarterly earnings per share of ($0.11), missing estimates by $0.02.
• The company has a negative return on equity of 107.34% and a negative net margin of 296.15%.
• Institutional investors hold 79.75% of Cadiz's stock, indicating strong institutional interest.

Cadiz (NASDAQ:CDZI - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02), Zacks reports. Cadiz had a negative return on equity of 107.34% and a negative net margin of 296.15%.

Cadiz Stock Performance

Shares of CDZI traded up $0.06 during trading hours on Wednesday, hitting $3.61. The stock had a trading volume of 438,131 shares, compared to its average volume of 426,295. The stock has a fifty day moving average price of $3.07 and a 200 day moving average price of $3.34. Cadiz has a 12 month low of $2.13 and a 12 month high of $5.68. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.19 and a quick ratio of 1.97. The firm has a market capitalization of $295.59 million, a PE ratio of -6.56 and a beta of 1.76.

Institutional Trading of Cadiz

Hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC bought a new stake in Cadiz during the first quarter valued at about $79,000. JPMorgan Chase & Co. boosted its stake in shares of Cadiz by 12.9% in the second quarter. JPMorgan Chase & Co. now owns 26,889 shares of the company's stock worth $80,000 after acquiring an additional 3,074 shares during the period. XTX Topco Ltd bought a new position in shares of Cadiz in the second quarter worth about $144,000. Russell Investments Group Ltd. boosted its stake in shares of Cadiz by 26.5% in the second quarter. Russell Investments Group Ltd. now owns 89,821 shares of the company's stock worth $269,000 after acquiring an additional 18,841 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Cadiz by 147.0% in the second quarter. Rhumbline Advisers now owns 91,963 shares of the company's stock worth $275,000 after acquiring an additional 54,725 shares during the period. Institutional investors own 79.75% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Roth Capital started coverage on Cadiz in a research note on Thursday, April 17th. They issued a "buy" rating and a $10.00 price target for the company.

Cadiz Company Profile

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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