Cadiz (NASDAQ:CDZI) Stock Price Crosses Below 200-Day Moving Average - What's Next?

Key Points

• Cadiz shares fell below their 200-day moving average of $4.68, trading as low as $2.91 and last changing hands at $3.09.
• Analyst sentiment is mixed but generally cautious: the stock carries an average “Hold” rating and a $10.00 target price, while recent firms issued ratings ranging from “Strong Sell” to “Hold.”
• Cadiz reported a quarterly loss of $0.12 per share, missing estimates, while revenue of $1.63 million came well below the $4.48 million consensus; meanwhile, a company director bought 110,865 shares at an average $4.58.

Cadiz, Inc. (NASDAQ:CDZI - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.68 and traded as low as $2.91. Cadiz shares last traded at $3.09, with a volume of 494,006 shares traded.

Analysts Set New Price Targets

Several research firms have recently commented on CDZI. Wall Street Zen lowered shares of Cadiz from a "sell" rating to a "strong sell" rating in a research report on Saturday, April 11th. Zacks Research raised shares of Cadiz from a "strong sell" rating to a "hold" rating in a report on Monday, June 1st. Finally, Weiss Ratings lowered shares of Cadiz from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $10.00.

Cadiz Trading Up 3.3%

The stock has a 50-day moving average price of $3.89 and a two-hundred day moving average price of $4.68. The stock has a market capitalization of $259.84 million, a PE ratio of -6.72 and a beta of 1.86. The company has a debt-to-equity ratio of 7.32, a quick ratio of 1.76 and a current ratio of 1.88.

Cadiz (NASDAQ:CDZI - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Cadiz had a negative return on equity of 129.97% and a negative net margin of 221.43%.The firm had revenue of $1.63 million during the quarter, compared to analysts' expectations of $4.48 million. As a group, equities analysts forecast that Cadiz, Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling at Cadiz

In other news, Director David Mark O'hara bought 110,865 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $4.58 per share, with a total value of $507,761.70. Following the acquisition, the director owned 117,841 shares of the company's stock, valued at approximately $539,711.78. This represents a 1,589.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.31% of the company's stock.

Institutional Trading of Cadiz

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Cadiz during the third quarter valued at $40,000. BNP Paribas Financial Markets lifted its stake in Cadiz by 115.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company's stock worth $52,000 after purchasing an additional 5,935 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Cadiz in the 4th quarter worth $56,000. LPL Financial LLC bought a new position in shares of Cadiz during the 4th quarter valued at about $56,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Cadiz during the 3rd quarter valued at about $56,000. Institutional investors own 79.75% of the company's stock.

Cadiz Company Profile

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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