Bank of America Corp DE Buys 568,084 Shares of Cadiz Inc. (NASDAQ:CDZI)

Bank of America Corp DE grew its position in Cadiz Inc. (NASDAQ:CDZI - Free Report) by 911.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 630,394 shares of the company's stock after buying an additional 568,084 shares during the quarter. Bank of America Corp DE owned 0.84% of Cadiz worth $3,278,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in shares of Cadiz by 31.6% in the 4th quarter. SG Americas Securities LLC now owns 19,717 shares of the company's stock valued at $103,000 after acquiring an additional 4,737 shares in the last quarter. Equitec Proprietary Markets LLC lifted its position in shares of Cadiz by 71.4% during the 4th quarter. Equitec Proprietary Markets LLC now owns 142,574 shares of the company's stock worth $741,000 after buying an additional 59,400 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Cadiz by 11.9% in the fourth quarter. Bank of New York Mellon Corp now owns 101,719 shares of the company's stock worth $529,000 after purchasing an additional 10,790 shares during the last quarter. SLT Holdings LLC purchased a new stake in Cadiz during the fourth quarter worth about $125,000. Finally, Corient Private Wealth LLC purchased a new position in Cadiz in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 79.75% of the company's stock.

Cadiz Stock Down 2.8%

CDZI stock traded down $0.09 during midday trading on Wednesday, hitting $3.12. The stock had a trading volume of 136,162 shares, compared to its average volume of 411,368. The business has a 50-day moving average of $2.80 and a two-hundred day moving average of $3.81. The firm has a market cap of $255.45 million, a price-to-earnings ratio of -6.16 and a beta of 1.77. The company has a debt-to-equity ratio of 3.88, a current ratio of 1.36 and a quick ratio of 0.87. Cadiz Inc. has a 52-week low of $2.13 and a 52-week high of $5.68.

Cadiz (NASDAQ:CDZI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). Cadiz had a negative net margin of 528.15% and a negative return on equity of 93.78%. The company had revenue of $2.95 million for the quarter, compared to the consensus estimate of $4.77 million. As a group, equities research analysts forecast that Cadiz Inc. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on CDZI. Roth Capital assumed coverage on Cadiz in a report on Thursday, April 17th. They set a "buy" rating and a $10.00 target price for the company. Wall Street Zen upgraded shares of Cadiz to a "sell" rating in a research report on Wednesday, March 5th.

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.