Shares of Cadiz, Inc. (NASDAQ:CDZI - Get Free Report) 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.
Wall Street Analysts Forecast Growth
Separately, Roth Capital assumed coverage on shares of Cadiz in a report on Thursday, April 17th. They issued a "buy" rating and a $10.00 target price on the stock.
View Our Latest Report on Cadiz
Cadiz Stock Down 2.6%
The company has a quick ratio of 1.97, a current ratio of 2.19 and a debt-to-equity ratio of 1.90. The company's fifty day moving average is $2.98 and its 200-day moving average is $3.65. The company has a market cap of $242.36 million, a PE ratio of -5.38 and a beta of 1.75.
Cadiz (NASDAQ:CDZI - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The company had revenue of $2.95 million during the quarter, compared to analysts' expectations of $4.77 million. Cadiz had a negative return on equity of 107.34% and a negative net margin of 296.15%. On average, analysts predict that Cadiz, Inc. will post -0.47 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Parkshore Wealth Management Inc. boosted its stake in shares of Cadiz by 3.3% during the 1st quarter. Parkshore Wealth Management Inc. now owns 255,618 shares of the company's stock worth $749,000 after acquiring an additional 8,174 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Cadiz during the 1st quarter worth $79,000. Alyeska Investment Group L.P. purchased a new position in shares of Cadiz during the 1st quarter worth $8,016,000. Russell Investments Group Ltd. boosted its stake in shares of Cadiz by 92.2% during the 1st quarter. Russell Investments Group Ltd. now owns 70,980 shares of the company's stock worth $208,000 after acquiring an additional 34,045 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Cadiz during the 1st quarter worth $452,000. Hedge funds and other institutional investors own 79.75% of the company's stock.
About Cadiz
(
Get Free Report)
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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