Parkshore Wealth Management Inc. Makes New Investment in Cadiz Inc. (NASDAQ:CDZI)

Parkshore Wealth Management Inc. acquired a new position in shares of Cadiz Inc. (NASDAQ:CDZI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 247,444 shares of the company's stock, valued at approximately $1,287,000. Cadiz comprises about 0.8% of Parkshore Wealth Management Inc.'s investment portfolio, making the stock its 25th biggest position. Parkshore Wealth Management Inc. owned about 0.33% of Cadiz as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CDZI. Geode Capital Management LLC lifted its stake in shares of Cadiz by 3.2% during the third quarter. Geode Capital Management LLC now owns 989,296 shares of the company's stock worth $2,998,000 after purchasing an additional 30,354 shares in the last quarter. Equitec Proprietary Markets LLC lifted its position in shares of Cadiz by 71.4% during the fourth quarter. Equitec Proprietary Markets LLC now owns 142,574 shares of the company's stock worth $741,000 after purchasing an additional 59,400 shares in the last quarter. HCR Wealth Advisors boosted its stake in shares of Cadiz by 15.8% in the fourth quarter. HCR Wealth Advisors now owns 528,000 shares of the company's stock valued at $2,746,000 after purchasing an additional 72,079 shares during the period. Rangeley Capital LLC acquired a new stake in Cadiz during the 4th quarter valued at $3,432,000. Finally, American Assets Capital Advisers LLC increased its stake in Cadiz by 5.6% during the 4th quarter. American Assets Capital Advisers LLC now owns 2,384,208 shares of the company's stock worth $12,398,000 after buying an additional 126,000 shares during the period. Hedge funds and other institutional investors own 79.75% of the company's stock.

Cadiz Stock Performance

Shares of NASDAQ:CDZI traded up $0.06 during trading on Friday, hitting $2.91. 581,910 shares of the company traded hands, compared to its average volume of 391,512. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 3.88. The business's fifty day moving average is $3.13 and its 200-day moving average is $3.86. The stock has a market capitalization of $237.99 million, a price-to-earnings ratio of -5.71 and a beta of 1.54. 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 Friday, March 28th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). Cadiz had a negative return on equity of 93.78% and a negative net margin of 528.15%. The company had revenue of $4.75 million during the quarter, compared to analyst estimates of $8.44 million. As a group, equities analysts predict that Cadiz Inc. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CDZI shares. Roth Capital started coverage on shares of Cadiz in a research report on Thursday, April 17th. They issued a "buy" rating and a $10.00 price objective for the company. StockNews.com upgraded Cadiz to a "sell" rating in a research note on Wednesday, March 5th.

Cadiz 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.