Cadiz (NASDAQ:CDZI) Upgraded at Wall Street Zen

Key Points

• Cadiz (NASDAQ:CDZI) has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a more optimistic outlook for the company's stock.
• Despite reporting a quarterly earnings loss of ($0.11) per share, which was below analysts' expectations, Cadiz's revenue of $4.13 million exceeded forecasts of $3.90 million.
• Institutional investors are showing increased interest in Cadiz, with significant purchases and position increases by firms like Bank of America Corp and B. Riley Financial Inc. during the 4th quarter.

Cadiz (NASDAQ:CDZI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Cadiz Stock Up 0.6%

CDZI stock opened at $3.63 on Friday. Cadiz has a twelve month low of $2.13 and a twelve month high of $5.68. The company has a quick ratio of 1.97, a current ratio of 1.81 and a debt-to-equity ratio of 2.40. The stock has a market cap of $297.73 million, a P/E ratio of -7.12 and a beta of 1.76. The business's 50-day moving average price is $3.09 and its 200-day moving average price is $3.33.

Cadiz (NASDAQ:CDZI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). Cadiz had a negative net margin of 217.49% and a negative return on equity of 97.55%. The company had revenue of $4.13 million for the quarter, compared to analysts' expectations of $3.90 million. On average, equities research analysts forecast that Cadiz will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in shares of Cadiz during the 4th quarter valued at about $573,000. Bank of America Corp DE lifted its position in shares of Cadiz by 911.7% during the 4th quarter. Bank of America Corp DE now owns 630,394 shares of the company's stock valued at $3,278,000 after buying an additional 568,084 shares in the last quarter. B. Riley Financial Inc. raised its stake in Cadiz by 825.2% during the 4th quarter. B. Riley Financial Inc. now owns 1,733,972 shares of the company's stock valued at $9,017,000 after purchasing an additional 1,546,554 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Cadiz by 7.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 59,636 shares of the company's stock valued at $311,000 after purchasing an additional 3,922 shares during the period. Finally, Parkshore Wealth Management Inc. bought a new stake in Cadiz during the 4th quarter valued at approximately $1,287,000. 79.75% of the stock is owned by hedge funds and other institutional investors.

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.

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