Cadiz's (CDZI) "Sell (D-)" Rating Reiterated at Weiss Ratings

Key Points

• Cadiz's stock has been rated as a "sell (D-)" by Weiss Ratings, while other firms recently upgraded the stock to a "hold" rating.
• The company reported a loss of $0.11 per share for the quarter, missing expectations, despite generating revenue of $4.13 million.
• Cadiz's stock price has seen an increase of 8.0% in recent trading, reaching $5.64 with a market capitalization of $462.59 million.

Cadiz (NASDAQ:CDZI - Get Free Report)'s stock had its "sell (d-)" rating restated by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms also recently issued reports on CDZI. Wall Street Zen upgraded Cadiz from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Zacks Research raised Cadiz from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cadiz has a consensus rating of "Hold" and a consensus price target of $10.00.

Cadiz Trading Up 8.0%

NASDAQ:CDZI traded up $0.42 during trading hours on Wednesday, hitting $5.64. The company had a trading volume of 2,601,002 shares, compared to its average volume of 598,003. The company has a current ratio of 1.81, a quick ratio of 1.55 and a debt-to-equity ratio of 2.40. The company has a 50-day moving average of $3.82 and a 200 day moving average of $3.23. The company has a market cap of $462.59 million, a P/E ratio of -11.06 and a beta of 1.89. Cadiz has a 1 year low of $2.13 and a 1 year high of $5.75.

Cadiz (NASDAQ:CDZI - Get Free Report) last issued 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). The firm had revenue of $4.13 million during the quarter, compared to analyst estimates of $3.90 million. Cadiz had a negative net margin of 217.49% and a negative return on equity of 97.55%. Sell-side analysts expect that Cadiz will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. HCR Wealth Advisors raised its position in shares of Cadiz by 52.8% during the third quarter. HCR Wealth Advisors now owns 74,874 shares of the company's stock worth $355,000 after purchasing an additional 25,874 shares during the period. Neuberger Berman Group LLC acquired a new position in shares of Cadiz in the second quarter valued at approximately $32,000. Elkhorn Partners Limited Partnership grew its position in shares of Cadiz by 7.2% in the second quarter. Elkhorn Partners Limited Partnership now owns 683,000 shares of the company's stock valued at $2,042,000 after purchasing an additional 46,000 shares during the last quarter. Bank of America Corp DE raised its position in shares of Cadiz by 50.2% in the second quarter. Bank of America Corp DE now owns 1,517,751 shares of the company's stock valued at $4,538,000 after buying an additional 507,449 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cadiz by 20.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,072 shares of the company's stock valued at $90,000 after purchasing an additional 5,012 shares in the last quarter. 79.75% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.