American Assets Investment Management LLC Has $5.56 Million Stock Position in Cadiz, Inc. (NASDAQ:CDZI)

Key Points

• American Assets Investment Management LLC significantly increased its position in Cadiz, Inc. by 1,158.1%, acquiring a total of 1,897,217 shares, now constituting 2.3% of its investment portfolio.
• Analysts from Roth Capital initiated coverage of Cadiz with a “buy” rating and set a target price of $10.00 for the stock.
• Cadiz reported a loss of $0.14 earnings per share for the recent quarter, falling short of expectations, with a negative net margin of 296.15%.

American Assets Investment Management LLC grew its position in shares of Cadiz, Inc. (NASDAQ:CDZI - Free Report) by 1,158.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,897,217 shares of the company's stock after buying an additional 1,746,416 shares during the period. Cadiz comprises 2.3% of American Assets Investment Management LLC's portfolio, making the stock its 15th largest position. American Assets Investment Management LLC owned 2.32% of Cadiz worth $5,559,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CDZI. Brookwood Investment Group LLC bought a new stake in shares of Cadiz in the 1st quarter worth approximately $62,000. Bank of New York Mellon Corp increased its position in Cadiz by 55.6% in the 1st quarter. Bank of New York Mellon Corp now owns 158,312 shares of the company's stock valued at $464,000 after acquiring an additional 56,593 shares during the period. HCR Wealth Advisors increased its position in Cadiz by 15.9% in the 1st quarter. HCR Wealth Advisors now owns 611,750 shares of the company's stock valued at $1,792,000 after acquiring an additional 83,750 shares during the period. Morton Capital Management LLC CA acquired a new stake in Cadiz in the 1st quarter valued at approximately $49,000. Finally, Connective Capital Management LLC acquired a new stake in Cadiz in the 4th quarter valued at approximately $327,000. Institutional investors own 79.75% of the company's stock.

Cadiz Price Performance

Shares of CDZI traded up $0.14 during trading hours on Monday, hitting $3.15. 409,821 shares of the company were exchanged, compared to its average volume of 564,312. The company has a market capitalization of $257.91 million, a PE ratio of -5.73 and a beta of 1.76. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.19 and a quick ratio of 1.97. The firm has a fifty day simple moving average of $3.01 and a 200-day simple moving average of $3.41. Cadiz, Inc. has a one year low of $2.13 and a one year high of $5.68.

Cadiz (NASDAQ:CDZI - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The business had revenue of $2.95 million during 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, sell-side analysts predict that Cadiz, Inc. will post -0.47 earnings per share for the current year.

Analysts Set New Price Targets

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

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.