Cadiz, Inc. (NASDAQ:CDZI – Get Free Report)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.14 and traded as low as $3.78. Cadiz shares last traded at $4.02, with a volume of 689,887 shares changing hands.
Wall Street Analyst Weigh In
Several research analysts have recently commented on CDZI shares. Wall Street Zen lowered Cadiz from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. Weiss Ratings downgraded shares of Cadiz from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. Finally, Zacks Research upgraded shares of Cadiz from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cadiz currently has an average rating of “Hold” and an average target price of $10.00.
View Our Latest Analysis on Cadiz
Cadiz Price Performance
Cadiz (NASDAQ:CDZI – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The firm had revenue of $1.63 million during the quarter, compared to analysts’ expectations of $4.48 million. Cadiz had a negative return on equity of 129.97% and a negative net margin of 221.43%. Analysts expect that Cadiz, Inc. will post -0.4 earnings per share for the current year.
Insider Transactions at Cadiz
In other Cadiz news, Director David Mark O’hara purchased 110,865 shares of Cadiz stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $4.58 per share, for a total transaction of $507,761.70. Following the completion of the transaction, the director directly owned 117,841 shares of the company’s stock, valued at approximately $539,711.78. The trade was a 1,589.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 2.31% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Cadiz
A number of institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in Cadiz in the 3rd quarter worth $40,000. BNP Paribas Financial Markets grew its stake in shares of Cadiz by 115.8% during the third quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock valued at $52,000 after buying an additional 5,935 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of Cadiz during the fourth quarter valued at about $56,000. LPL Financial LLC purchased a new position in shares of Cadiz in the fourth quarter worth about $56,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Cadiz in the third quarter worth about $56,000. Hedge funds and other 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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