Cadiz (NASDAQ:CDZI) Shares Cross Below 200-Day Moving Average - Time to Sell?

Cadiz, Inc. (NASDAQ:CDZI - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $4.13 and traded as low as $3.50. Cadiz shares last traded at $3.92, with a volume of 2,520,629 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Cadiz in a report on Tuesday, September 1st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $10.00.

Cadiz Price Performance

The company has a current ratio of 1.16, a quick ratio of 0.96 and a debt-to-equity ratio of 24.97. The business has a 50-day moving average price of $3.59 and a 200 day moving average price of $4.13. The stock has a market cap of $331.95 million, a PE ratio of -7.84 and a beta of 1.90.

Cadiz (NASDAQ:CDZI - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Cadiz had a negative return on equity of 206.79% and a negative net margin of 311.03%.The firm had revenue of $0.98 million for the quarter, compared to the consensus estimate of $3.07 million. As a group, research analysts forecast that Cadiz, Inc. will post -0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cadiz

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDZI. SG Americas Securities LLC raised its position in shares of Cadiz by 1,511.6% in the first quarter. SG Americas Securities LLC now owns 218,094 shares of the company's stock valued at $1,071,000 after purchasing an additional 204,561 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Cadiz during the 2nd quarter valued at approximately $794,000. Potomac Capital Management Inc. bought a new position in Cadiz in the 4th quarter worth approximately $1,879,000. Squarepoint Ops LLC boosted its holdings in Cadiz by 193.6% in the 2nd quarter. Squarepoint Ops LLC now owns 127,578 shares of the company's stock worth $533,000 after buying an additional 84,129 shares during the period. Finally, Alpine Global Management LLC purchased a new position in Cadiz in the 4th quarter valued at approximately $281,000. Institutional investors own 79.75% of the company's stock.

Cadiz Company Profile

Cadiz, Inc is a California-based water resources and infrastructure company focused on developing, managing and delivering water supplies. The company owns land and water rights in the Mojave Desert and works to conserve, store, transport and supply water for communities, agriculture and other users in California.

Its principal project is the Cadiz Water Conservation, Recovery and Storage Project in San Bernardino County. The project is designed to capture and conserve native groundwater that would otherwise be lost to evaporation, while supporting water storage and delivery through regional infrastructure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.