Cadiz, Inc. (NASDAQ:CDZI - Get Free Report) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.95 and traded as low as $3.67. Cadiz shares last traded at $3.83, with a volume of 2,951,995 shares changing hands.
Analysts Set New Price Targets
CDZI has been the subject of a number of research analyst reports. Weiss Ratings lowered Cadiz from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, June 4th. Zacks Research upgraded Cadiz from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. Finally, Wall Street Zen lowered Cadiz from a "sell" rating to a "strong sell" rating in a report on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $10.00.
Read Our Latest Report on Cadiz
Cadiz Stock Performance
The company has a debt-to-equity ratio of 7.32, a quick ratio of 1.76 and a current ratio of 1.88. The firm's 50 day simple moving average is $4.25 and its 200 day simple moving average is $4.95. The firm has a market capitalization of $322.06 million, a price-to-earnings ratio of -8.33 and a beta of 1.83.
Cadiz (NASDAQ:CDZI - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Cadiz had a negative net margin of 221.43% and a negative return on equity of 129.97%. The business had revenue of $1.63 million during the quarter, compared to analysts' expectations of $4.48 million. Sell-side analysts forecast that Cadiz, Inc. will post -0.4 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Cadiz news, Director David Mark O'hara purchased 110,865 shares of the stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $4.58 per share, with a total value of $507,761.70. Following the completion of the acquisition, the director owned 117,841 shares in the company, valued at $539,711.78. This trade represents a 1,589.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.31% of the company's stock.
Hedge Funds Weigh In On Cadiz
A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Cadiz by 12.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 26,889 shares of the company's stock valued at $80,000 after buying an additional 3,074 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Cadiz by 28.9% during the second quarter. The Manufacturers Life Insurance Company now owns 21,926 shares of the company's stock worth $66,000 after acquiring an additional 4,918 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cadiz by 20.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,072 shares of the company's stock worth $90,000 after acquiring an additional 5,012 shares during the period. Invesco Ltd. raised its position in Cadiz by 31.0% during the fourth quarter. Invesco Ltd. now owns 24,673 shares of the company's stock valued at $138,000 after acquiring an additional 5,835 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Cadiz by 115.8% during the third quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company's stock valued at $52,000 after acquiring an additional 5,935 shares in the last quarter. Hedge funds and other institutional investors own 79.75% of the company's stock.
About Cadiz
(
Get Free Report)
Cadiz, Inc NASDAQ: CDZI is a Southern California–based water resource management company focused on developing and operating groundwater storage, recovery and conveyance projects. The company holds water rights and mineral rights on approximately 34,000 acres in the Mojave Desert and is chiefly known for advancing the Cadiz Water Project, a planned system to capture, store and distribute groundwater to urban and agricultural users in the region.
The company's primary business activity centers on the development of infrastructure that enables sustainable groundwater banking.
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