Cadiz (NASDAQ:CDZI) Lifted to “Sell” at StockNews.com

Cadiz (NASDAQ:CDZIGet Rating) was upgraded by StockNews.com to a “sell” rating in a research note issued to investors on Tuesday.

Separately, B. Riley cut their target price on shares of Cadiz from $17.50 to $15.00 in a report on Monday, May 16th.

Shares of CDZI stock traded up $0.02 during trading hours on Tuesday, hitting $2.08. 82,894 shares of the company were exchanged, compared to its average volume of 319,772. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.24 and a current ratio of 5.24. Cadiz has a one year low of $1.66 and a one year high of $14.69. The business’s 50-day simple moving average is $2.02 and its two-hundred day simple moving average is $2.95. The stock has a market capitalization of $105.60 million, a price-to-earnings ratio of -2.48 and a beta of 0.12.

Cadiz (NASDAQ:CDZIGet Rating) last issued its quarterly earnings results on Tuesday, March 29th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Cadiz had a negative return on equity of 92.99% and a negative net margin of 5,505.64%. The company had revenue of $0.14 million for the quarter. As a group, analysts anticipate that Cadiz will post -0.53 EPS for the current fiscal year.

In other news, major shareholder International Group Se Heerema purchased 2,857,142 shares of the company’s stock in a transaction on Sunday, March 20th. The shares were bought at an average price of $1.75 per share, for a total transaction of $4,999,998.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith Brackpool acquired 100,000 shares of the stock in a transaction that occurred on Monday, April 11th. The shares were bought at an average price of $2.00 per share, for a total transaction of $200,000.00. Following the purchase, the director now directly owns 1,798,091 shares of the company’s stock, valued at $3,596,182. The disclosure for this purchase can be found here. Insiders acquired 3,006,937 shares of company stock worth $5,306,102 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CDZI. Allianz Asset Management GmbH acquired a new position in Cadiz in the third quarter worth approximately $2,642,000. Barclays PLC boosted its stake in Cadiz by 233.3% in the 3rd quarter. Barclays PLC now owns 8,612 shares of the company’s stock worth $61,000 after purchasing an additional 6,028 shares during the period. Swiss National Bank boosted its stake in Cadiz by 9.5% in the 3rd quarter. Swiss National Bank now owns 85,700 shares of the company’s stock worth $603,000 after purchasing an additional 7,400 shares during the period. Geode Capital Management LLC boosted its stake in Cadiz by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 499,016 shares of the company’s stock worth $3,513,000 after purchasing an additional 20,025 shares during the period. Finally, First Quadrant L P CA boosted its stake in Cadiz by 233.3% in the 4th quarter. First Quadrant L P CA now owns 9,000 shares of the company’s stock worth $35,000 after purchasing an additional 6,300 shares during the period. Institutional investors and hedge funds own 55.53% of the company’s stock.

Cadiz Company Profile (Get Rating)

Cadiz Inc, together with its subsidiaries, operates as a natural resources development company in the United States. It engages in the water resource and agricultural development activities in San Bernardino County properties. The company owns approximately 35,000 acres of land in the Cadiz and Fenner valleys of eastern San Bernardino County; and approximately 11,000 acres of land in the eastern Mojave Desert portion of San Bernardino County.

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