Cadiz (NASDAQ:CDZI – Get Free Report) released its earnings results on Thursday. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02), FiscalAI reports. Cadiz had a negative return on equity of 104.61% and a negative net margin of 209.35%.The firm had revenue of $1.63 million for the quarter, compared to the consensus estimate of $4.56 million.
Cadiz Stock Performance
Shares of NASDAQ CDZI traded down $0.05 during mid-day trading on Thursday, hitting $4.64. The company had a trading volume of 538,180 shares, compared to its average volume of 859,033. The stock has a market cap of $388.37 million, a price-to-earnings ratio of -9.67 and a beta of 1.79. Cadiz has a 12 month low of $2.58 and a 12 month high of $6.96. The company has a debt-to-equity ratio of 4.33, a current ratio of 1.22 and a quick ratio of 1.13. The firm’s 50 day simple moving average is $4.89 and its two-hundred day simple moving average is $5.32.
Analyst Upgrades and Downgrades
CDZI has been the topic of a number of research analyst reports. Wall Street Zen downgraded Cadiz from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. Maxim Group initiated coverage on Cadiz in a report on Monday, February 2nd. They set a “buy” rating and a $10.00 target price on the stock. Zacks Research downgraded Cadiz from a “hold” rating to a “strong sell” rating in a report on Monday, April 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cadiz in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $10.00.
Institutional Trading of Cadiz
Hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of Cadiz in the 3rd quarter worth approximately $40,000. BNP Paribas Financial Markets lifted its holdings in shares of Cadiz by 115.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock worth $52,000 after purchasing an additional 5,935 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of Cadiz in the 3rd quarter worth approximately $56,000. LPL Financial LLC bought a new stake in shares of Cadiz in the 4th quarter worth approximately $56,000. Finally, Virtu Financial LLC bought a new stake in shares of Cadiz in the 4th quarter worth approximately $57,000. Institutional investors own 79.75% of the company’s stock.
About Cadiz
Cadiz, Inc (NASDAQ: CDZI) is a Southern California–based water resource management company focused on developing and operating groundwater storage, recovery and conveyance projects. The company holds water rights and mineral rights on approximately 34,000 acres in the Mojave Desert and is chiefly known for advancing the Cadiz Water Project, a planned system to capture, store and distribute groundwater to urban and agricultural users in the region.
The company’s primary business activity centers on the development of infrastructure that enables sustainable groundwater banking.
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