Nuveen LLC Makes New Investment in Cadiz, Inc. $CDZI

Key Points

• Nuveen LLC has purchased 154,256 shares of Cadiz, Inc. valued at approximately $452,000, representing 0.19% ownership by the end of the recent quarter.
• Cadiz has received upgrades from analysts, moving from a "strong sell" to a "hold" rating, with a consensus price target set at $10.00.
• The company's latest earnings report showed a loss of ($0.11) per share, slightly missing estimates, despite reporting higher revenue than expected at $4.13 million.

Nuveen LLC purchased a new position in Cadiz, Inc. (NASDAQ:CDZI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 154,256 shares of the company's stock, valued at approximately $452,000. Nuveen LLC owned 0.19% of Cadiz as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ethic Inc. purchased a new stake in Cadiz in the fourth quarter worth $57,000. ProShare Advisors LLC purchased a new stake in Cadiz in the fourth quarter worth $62,000. Virtu Financial LLC purchased a new stake in Cadiz in the first quarter worth $41,000. Morton Capital Management LLC CA purchased a new stake in Cadiz in the first quarter worth $49,000. Finally, Brookwood Investment Group LLC purchased a new stake in shares of Cadiz in the first quarter worth $62,000. 79.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CDZI. Zacks Research raised Cadiz from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Wall Street Zen raised Cadiz from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $10.00.

Cadiz Stock Performance

Shares of Cadiz stock traded down $0.20 during trading on Tuesday, hitting $3.50. 451,987 shares of the company's stock traded hands, compared to its average volume of 548,815. 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, Inc. has a 1 year low of $2.13 and a 1 year high of $5.68. The stock has a market capitalization of $286.66 million, a P/E ratio of -6.85 and a beta of 1.82. The business has a 50-day simple moving average of $3.26 and a 200-day simple moving average of $3.15.

Cadiz (NASDAQ:CDZI - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate 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 business had revenue of $4.13 million for the quarter, compared to analysts' expectations of $3.90 million. As a group, analysts forecast that Cadiz, Inc. will post -0.47 EPS for the current year.

About Cadiz

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.