Parkshore Wealth Management Inc. Takes $1.29 Million Position in Cadiz Inc. (NASDAQ:CDZI)

Parkshore Wealth Management Inc. acquired a new stake in shares of Cadiz Inc. (NASDAQ:CDZI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 247,444 shares of the company's stock, valued at approximately $1,287,000. Cadiz comprises 0.8% of Parkshore Wealth Management Inc.'s portfolio, making the stock its 25th largest holding. Parkshore Wealth Management Inc. owned approximately 0.33% of Cadiz as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Corient Private Wealth LLC purchased a new stake in Cadiz in the fourth quarter valued at about $57,000. Walleye Capital LLC purchased a new position in Cadiz during the fourth quarter valued at $60,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Cadiz during the fourth quarter worth about $100,000. SG Americas Securities LLC raised its position in shares of Cadiz by 31.6% during the 4th quarter. SG Americas Securities LLC now owns 19,717 shares of the company's stock worth $103,000 after purchasing an additional 4,737 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Cadiz in the 4th quarter valued at about $103,000. Hedge funds and other institutional investors own 79.75% of the company's stock.

Cadiz Price Performance

CDZI remained flat at $2.84 during trading hours on Wednesday. The company had a trading volume of 282,773 shares, compared to its average volume of 389,399. The business has a fifty day moving average of $3.19 and a 200-day moving average of $3.86. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 3.88. The stock has a market cap of $232.27 million, a PE ratio of -5.57 and a beta of 1.54. Cadiz Inc. has a 12-month low of $2.13 and a 12-month high of $5.68.

Cadiz (NASDAQ:CDZI - Get Free Report) last posted its quarterly earnings data on Friday, March 28th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). The company had revenue of $4.75 million for the quarter, compared to analysts' expectations of $8.44 million. Cadiz had a negative return on equity of 93.78% and a negative net margin of 528.15%. Analysts expect that Cadiz Inc. will post -0.47 EPS for the current year.

Analyst Upgrades and Downgrades

CDZI has been the subject of a number of research analyst reports. Roth Capital began coverage on Cadiz in a report on Thursday, April 17th. They set a "buy" rating and a $10.00 target price for the company. StockNews.com raised Cadiz to a "sell" rating in a research note on Wednesday, March 5th.

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.