Cadiz (NASDAQ:CDZI) Stock Rating Upgraded by 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 investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Cadiz Price Performance

CDZI stock remained flat at $3.35 on Friday. The company had a trading volume of 262,777 shares, compared to its average volume of 456,512. Cadiz has a 1-year low of $2.13 and a 1-year high of $5.68. The company has a market capitalization of $274.77 million, a P/E ratio of -6.57 and a beta of 1.76. The business has a 50 day simple moving average of $3.11 and a two-hundred day simple moving average of $3.30. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.81 and a quick ratio of 1.55.

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

Hedge Funds Weigh In On Cadiz

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDZI. Neuberger Berman Group LLC bought a new position in Cadiz during the 2nd quarter valued at $32,000. ProShare Advisors LLC bought a new position in Cadiz during the 2nd quarter valued at $34,000. Virtu Financial LLC bought a new position in Cadiz during the 1st quarter valued at $41,000. Evelyn Partners Investment Management LLP boosted its stake in Cadiz by 1,526.4% during the 2nd quarter. Evelyn Partners Investment Management LLP now owns 15,191 shares of the company's stock valued at $45,000 after purchasing an additional 14,257 shares in the last quarter. Finally, Morton Capital Management LLC CA bought a new position in Cadiz during the 1st quarter valued at $49,000. 79.75% of the stock is owned by 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.