Cadiz (NASDAQ:CDZI) Stock Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• Cadiz shares rose 6.2% and crossed above their 50-day moving average, trading at $3.78 versus a 50-day average of $3.56. However, the price remains below the 200-day moving average of $4.21.
• Analyst sentiment is mixed, with one Buy, one Hold and one Sell rating; the overall consensus is Hold, with a $10.00 target price.
• Cadiz reported weaker-than-expected quarterly results, including a $0.15 per-share loss versus an expected $0.12 loss and revenue of $0.98 million versus a $3.07 million estimate. The company also posted sharply negative margins and return on equity.

Cadiz, Inc. (NASDAQ:CDZI - Get Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $3.56 and traded as high as $3.78. Cadiz shares last traded at $3.78, with a volume of 511,706 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CDZI. Zacks Research upgraded shares of Cadiz from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. Weiss Ratings restated a "sell (e+)" rating on shares of Cadiz in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $10.00.

Cadiz Trading Up 6.2%

The company has a fifty day moving average of $3.56 and a two-hundred day moving average of $4.21. The company has a quick ratio of 0.96, a current ratio of 1.16 and a debt-to-equity ratio of 24.97. The stock has a market capitalization of $320.09 million, a price-to-earnings ratio of -7.56 and a beta of 1.90.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Corient Private Wealth LP acquired a new stake in Cadiz in the second quarter valued at about $43,000. ProShare Advisors LLC purchased a new stake in Cadiz in the 4th quarter valued at approximately $56,000. AXQ Capital LP acquired a new position in Cadiz during the 4th quarter worth approximately $76,000. Inceptionr LLC acquired a new position in Cadiz during the 1st quarter worth approximately $94,000. Finally, Royal Bank of Canada raised its stake in shares of Cadiz by 797.4% during the 1st quarter. Royal Bank of Canada now owns 21,600 shares of the company's stock worth $106,000 after buying an additional 19,193 shares in the last quarter. 79.75% of the stock is currently owned by institutional investors and hedge funds.

About Cadiz

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.