Cadiz (NASDAQ:CDZI – Get Free Report) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday, Zacks reports.
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cadiz in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $10.00.
Read Our Latest Research Report on CDZI
Cadiz Trading Up 18.3%
Shares of CDZI stock opened at $3.81 on Wednesday. Cadiz has a 1 year low of $2.87 and a 1 year high of $6.96. The firm has a market capitalization of $322.63 million, a PE ratio of -7.62 and a beta of 1.72. The stock has a fifty day moving average of $3.69 and a two-hundred day moving average of $4.02. The company has a debt-to-equity ratio of 24.97, a quick ratio of 0.96 and a current ratio of 1.16.
Cadiz (NASDAQ:CDZI – Get Free Report) last posted 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 company had revenue of $0.98 million during the quarter, compared to the consensus estimate of $3.07 million. As a group, research analysts expect that Cadiz will post -0.55 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its stake in shares of Cadiz by 1,511.6% in the 1st quarter. SG Americas Securities LLC now owns 218,094 shares of the company’s stock valued at $1,071,000 after acquiring an additional 204,561 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Cadiz in the 2nd quarter worth approximately $794,000. Alpine Global Management LLC acquired a new stake in Cadiz in the 4th quarter worth approximately $281,000. Hsbc Holdings PLC acquired a new stake in Cadiz in the 4th quarter worth approximately $719,000. Finally, Inceptionr LLC bought a new stake in Cadiz during the first quarter worth approximately $94,000. Institutional investors and hedge funds own 79.75% of the company’s stock.
Cadiz Company Profile
Cadiz Inc (NASDAQ: CDZI) is a California-based water and natural resources company focused on developing, managing and supplying water in the southwestern United States. The company owns and manages land and water rights in California’s Mojave Desert and is working to develop long-term water supply, storage and conservation projects.
Cadiz’s principal initiative is the Cadiz Water Conservation, Storage and Supply Project in California’s eastern Mojave Desert. The project is designed to conserve groundwater, improve regional water management and deliver water to participating public water agencies through existing and planned infrastructure.
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