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

Cadiz, Inc. (NASDAQ:CDZI - Get Free Report) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.67 and traded as low as $3.08. Cadiz shares last traded at $3.17, with a volume of 174,456 shares traded.

Analyst Ratings Changes

Separately, Roth Capital began coverage on shares of Cadiz in a research report on Thursday, April 17th. They set a "buy" rating and a $10.00 price target on the stock.

Cadiz Trading Up 3.6%

The company has a fifty day moving average price of $2.97 and a two-hundred day moving average price of $3.67. The firm has a market capitalization of $259.56 million, a price-to-earnings ratio of -5.76 and a beta of 1.75. 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 analysts' consensus estimates of ($0.11) by ($0.03). The company had revenue of $2.95 million for the quarter, compared to analyst estimates of $4.77 million. Cadiz had a negative return on equity of 107.34% and a negative net margin of 296.15%. As a group, research analysts forecast that Cadiz, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in Cadiz in the 4th quarter valued at about $573,000. Bank of America Corp DE lifted its holdings in Cadiz by 911.7% in the fourth quarter. Bank of America Corp DE now owns 630,394 shares of the company's stock valued at $3,278,000 after acquiring an additional 568,084 shares during the last quarter. Rangeley Capital LLC acquired a new position in Cadiz in the fourth quarter valued at approximately $3,432,000. B. Riley Financial Inc. lifted its holdings in Cadiz by 825.2% in the fourth quarter. B. Riley Financial Inc. now owns 1,733,972 shares of the company's stock valued at $9,017,000 after acquiring an additional 1,546,554 shares during the last quarter. Finally, American Assets Capital Advisers LLC lifted its holdings in Cadiz by 5.6% in the fourth quarter. American Assets Capital Advisers LLC now owns 2,384,208 shares of the company's stock valued at $12,398,000 after acquiring an additional 126,000 shares during the last quarter. Institutional investors and hedge funds own 79.75% of the company's stock.

About Cadiz

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.

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