Cadiz Inc. (NASDAQ:CDZIP – Get Free Report) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 47,848 shares, an increase of 1,128.1% from the May 31st total of 3,896 shares. Based on an average trading volume of 10,300 shares, the short-interest ratio is presently 4.6 days.
Cadiz Price Performance
Cadiz stock traded down $0.28 during midday trading on Friday, hitting $22.71. 7,369 shares of the stock were exchanged, compared to its average volume of 7,002. The stock’s 50-day simple moving average is $21.29 and its 200 day simple moving average is $20.10. Cadiz has a fifty-two week low of $16.90 and a fifty-two week high of $24.78.
Cadiz Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 annualized dividend and a dividend yield of 9.7%.
Cadiz Company Profile
Cadiz, Inc (NASDAQ: CDZIP) is a land and water resource management company focused on developing sustainable water supply solutions in Southern California. The company holds approximately 36,000 acres of desert land in the Mojave Basin, where it has pursued the Cadiz Water Project—a plan to capture and convey groundwater to regional municipal and industrial customers. Cadiz oversees the permitting, design, and construction of conveyance infrastructure, including an engineered pipeline and pumping stations.
In addition to its water development activities, Cadiz operates agricultural ventures on its desert holdings, growing crops such as alfalfa while restoring degraded soils and maintaining native habitat.
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