Shares of Cadiz, Inc. (NASDAQ:CDZI - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.37 and traded as low as $4.34. Cadiz shares last traded at $4.43, with a volume of 837,953 shares changing hands.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. Zacks Research cut Cadiz from a "hold" rating to a "strong sell" rating in a research report on Monday, April 6th. Maxim Group assumed coverage on Cadiz in a research report on Monday, February 2nd. They set a "buy" rating and a $10.00 price target for the company. Wall Street Zen cut Cadiz from a "sell" rating to a "strong sell" rating in a research report on Saturday, April 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cadiz in a research report on Monday, April 20th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $10.00.
Read Our Latest Report on CDZI
Cadiz Price Performance
The firm has a market capitalization of $369.55 million, a PE ratio of -9.23 and a beta of 2.08. The stock has a 50-day moving average price of $5.04 and a 200 day moving average price of $5.37. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 4.33.
Cadiz (NASDAQ:CDZI - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.67). The business had revenue of $5.08 million during the quarter, compared to analysts' expectations of $4.80 million. Cadiz had a negative net margin of 209.35% and a negative return on equity of 104.61%. Equities analysts forecast that Cadiz, Inc. will post -0.4 EPS for the current fiscal year.
Institutional Trading of Cadiz
Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Cadiz by 12.9% during the second quarter. JPMorgan Chase & Co. now owns 26,889 shares of the company's stock worth $80,000 after purchasing an additional 3,074 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of 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 purchasing an additional 4,918 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 purchasing an additional 5,012 shares in the last quarter. Invesco Ltd. increased its position in shares of Cadiz by 31.0% during the fourth quarter. Invesco Ltd. now owns 24,673 shares of the company's stock worth $138,000 after purchasing an additional 5,835 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Cadiz by 115.8% during the third 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. 79.75% of the stock is currently owned by hedge funds and other institutional investors.
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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