Cadiz (NASDAQ:CDZI) Shares Pass Below 200-Day Moving Average - Time to Sell?

Cadiz, Inc. (NASDAQ:CDZI - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.55 and traded as low as $2.90. Cadiz shares last traded at $2.95, with a volume of 284,804 shares trading hands.

Analyst Ratings Changes

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

Cadiz Stock Down 1.2%

The stock has a market capitalization of $241.12 million, a PE ratio of -5.35 and a beta of 1.75. The firm has a 50 day moving average of $2.98 and a two-hundred day moving average of $3.51. The company has a current ratio of 2.19, a quick ratio of 1.97 and a debt-to-equity ratio of 1.90.

Cadiz (NASDAQ:CDZI - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The firm had revenue of $2.95 million during the quarter, compared to analysts' expectations of $4.77 million. Cadiz had a negative net margin of 296.15% and a negative return on equity of 107.34%. Equities research analysts anticipate that Cadiz, Inc. will post -0.47 earnings per share for the current year.

Institutional Trading of Cadiz

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDZI. Whitefort Capital Management LP purchased a new stake in Cadiz during the 4th quarter worth about $19,344,000. Alyeska Investment Group L.P. purchased a new stake in shares of Cadiz during the first quarter worth about $8,016,000. American Assets Investment Management LLC grew its stake in Cadiz by 1,158.1% in the 1st quarter. American Assets Investment Management LLC now owns 1,897,217 shares of the company's stock worth $5,559,000 after acquiring an additional 1,746,416 shares during the period. B. Riley Financial Inc. grew its stake in Cadiz by 825.2% in the 4th quarter. B. Riley Financial Inc. now owns 1,733,972 shares of the company's stock worth $9,017,000 after acquiring an additional 1,546,554 shares during the period. Finally, Rangeley Capital LLC purchased a new stake in Cadiz in the 4th quarter worth approximately $3,432,000. Hedge funds and other institutional investors own 79.75% of the company's stock.

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.