Cadiz (NASDAQ:CDZI) Sets New 1-Year High – Here’s What Happened

by · The Cerbat Gem

Shares of Cadiz, Inc. (NASDAQ:CDZI – Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $6.28 and last traded at $6.0540, with a volume of 1131345 shares traded. The stock had previously closed at $5.67.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Cadiz in a report on Wednesday, October 8th. Wall Street Zen lowered Cadiz from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research raised Cadiz from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.00.

Read Our Latest Report on CDZI

Cadiz Stock Up 9.9%

The firm’s fifty day simple moving average is $4.84 and its 200-day simple moving average is $3.73. The company has a market cap of $517.86 million, a PE ratio of -12.11 and a beta of 1.90. The company has a quick ratio of 1.55, a current ratio of 1.81 and a debt-to-equity ratio of 2.40.

Cadiz (NASDAQ:CDZI – Get Free Report) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $4.15 million for the quarter, compared to analyst estimates of $3.90 million. Cadiz had a negative return on equity of 97.55% and a negative net margin of 217.49%. As a group, equities research analysts expect that Cadiz, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new position in shares of Cadiz during the 2nd quarter valued at about $410,000. Alyeska Investment Group L.P. acquired a new position in Cadiz during the first quarter worth approximately $8,016,000. Levin Capital Strategies L.P. boosted its holdings in shares of Cadiz by 5.7% in the 2nd quarter. Levin Capital Strategies L.P. now owns 3,242,522 shares of the company’s stock valued at $9,695,000 after purchasing an additional 176,142 shares during the last quarter. GAM Holding AG purchased a new stake in shares of Cadiz during the 2nd quarter valued at $1,196,000. Finally, American Assets Investment Management LLC increased its holdings in shares of Cadiz by 1,158.1% during the 1st quarter. American Assets Investment Management LLC now owns 1,897,217 shares of the company’s stock worth $5,559,000 after buying an additional 1,746,416 shares during the last quarter. 79.75% of the stock is currently owned by institutional investors and hedge funds.

Cadiz Company Profile

(Get Free Report)

Cadiz Inc, together with its subsidiaries, provides water solutions in the United States. The company operates through Land and Water Resources; and Water Filtration Technology segments. It offers water supply, water storage, water conveyance, and water filtration services. In addition, the company is involved in the cultivation of grain crops and alfalfa, as well as provides water filtration solutions for impaired or contaminated groundwater sources.

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