Cadiz (NASDAQ:CDZI) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Cadiz, Inc. (NASDAQ:CDZIGet Free Report) crossed above its 50-day moving average during trading on Monday . The stock has a 50-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 traded.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDZI. Weiss Ratings reissued a “sell (e+)” rating on shares of Cadiz in a research note on Tuesday, September 1st. Zacks Research raised Cadiz from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.00.

View Our Latest Analysis on Cadiz

Cadiz Stock Performance

The company has a market capitalization of $323.48 million, a PE ratio of -7.64 and a beta of 1.90. The company has a current ratio of 1.16, a quick ratio of 0.96 and a debt-to-equity ratio of 24.97. The firm’s 50-day simple moving average is $3.56 and its 200-day simple moving average is $4.19.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC lifted its holdings in shares of Cadiz by 193.6% in the 2nd quarter. Squarepoint Ops LLC now owns 127,578 shares of the company’s stock worth $533,000 after buying an additional 84,129 shares during the period. Corient Private Wealth LP bought a new position in shares of Cadiz during the 2nd quarter worth $43,000. Ancora Advisors LLC purchased a new position in shares of Cadiz during the second quarter valued at $195,000. Bank of New York Mellon Corp bought a new stake in shares of Cadiz in the second quarter valued at about $794,000. Finally, Bank of America Corp DE raised its holdings in shares of Cadiz by 0.3% in the first quarter. Bank of America Corp DE now owns 3,528,294 shares of the company’s stock valued at $17,324,000 after acquiring an additional 9,473 shares in the last quarter. 79.75% of the stock is currently owned by hedge funds and other institutional investors.

Cadiz Company Profile

(Get Free Report)

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.

Further Reading

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