Cadiz (NASDAQ:CDZI) Stock Price Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• Cadiz stock fell below its 200‑day moving average, trading as low as $4.88 and last at $4.94 versus the 200‑day MA of $5.30, on volume of 438,437 shares and down roughly 2.4%.
• Analysts are mixed — two Buys, one Hold and one Sell — leaving a consensus rating of "Hold" with a consensus price target of $10.00.
• Institutional investors own 79.75% of the shares with several hedge funds adding or initiating positions, while the company shows high leverage (debt‑to‑equity 3.14) and a negative P/E of -10.08 on a $410.6M market cap.

Cadiz, Inc. (NASDAQ:CDZI - Get Free Report)'s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.30 and traded as low as $4.88. Cadiz shares last traded at $4.94, with a volume of 438,437 shares traded.

Wall Street Analysts Forecast Growth

CDZI has been the subject of a number of analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Cadiz in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Cadiz from a "hold" rating to a "sell" rating in a research note on Saturday, February 7th. Finally, Maxim Group began coverage on shares of Cadiz in a report on Monday, February 2nd. They set a "buy" rating and a $10.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Cadiz presently has an average rating of "Hold" and a consensus price target of $10.00.

Cadiz Trading Down 2.4%

The stock has a fifty day simple moving average of $5.35 and a 200 day simple moving average of $5.30. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.96 and a current ratio of 1.26. The firm has a market cap of $410.56 million, a P/E ratio of -10.08 and a beta of 2.05.

Hedge Funds Weigh In On Cadiz

A number of hedge funds have recently bought and sold shares of CDZI. Bank of America Corp DE lifted its stake in Cadiz by 130.0% during the 3rd quarter. Bank of America Corp DE now owns 3,491,080 shares of the company's stock valued at $16,478,000 after acquiring an additional 1,973,329 shares during the period. Permanent Capital Management LP bought a new stake in shares of Cadiz in the third quarter worth approximately $2,344,000. Levin Capital Strategies L.P. grew its stake in shares of Cadiz by 12.9% in the third quarter. Levin Capital Strategies L.P. now owns 3,661,547 shares of the company's stock worth $17,283,000 after acquiring an additional 419,025 shares during the period. Potomac Capital Management Inc. purchased a new position in shares of Cadiz during the fourth quarter valued at approximately $1,879,000. Finally, Stonehill Capital Management LLC purchased a new position in shares of Cadiz during the fourth quarter valued at approximately $1,859,000. Hedge funds and other 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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