Cadiz (NASDAQ:CDZI) Shares Cross Below 200-Day Moving Average – What’s Next?
by Renee Jackson · The Cerbat GemShares of Cadiz, Inc. (NASDAQ:CDZI – Get Free Report) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $4.07 and traded as low as $3.48. Cadiz shares last traded at $3.52, with a volume of 1,614,879 shares.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cadiz in a research report on Tuesday, September 1st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.
Get Our Latest Stock Report on Cadiz
Cadiz Price Performance
The company has a debt-to-equity ratio of 24.97, a quick ratio of 0.96 and a current ratio of 1.16. The firm has a fifty day simple moving average of $3.66 and a 200 day simple moving average of $4.07. The company has a market capitalization of $289.61 million, a PE ratio of -6.84 and a beta of 1.72.
Cadiz (NASDAQ:CDZI – Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The firm had revenue of $0.98 million during the quarter, compared to analysts’ expectations of $3.07 million. Cadiz had a negative return on equity of 206.79% and a negative net margin of 311.03%. Equities analysts anticipate that Cadiz, Inc. will post -0.55 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LP purchased a new position in Cadiz during the second quarter valued at approximately $43,000. Inceptionr LLC purchased a new stake in Cadiz during the first quarter worth $94,000. Royal Bank of Canada boosted its position in Cadiz by 797.4% during the 1st quarter. Royal Bank of Canada now owns 21,600 shares of the company’s stock valued at $106,000 after acquiring an additional 19,193 shares in the last quarter. Ancora Advisors LLC bought a new stake in Cadiz during the 2nd quarter valued at $195,000. Finally, Alpine Global Management LLC purchased a new position in shares of Cadiz in the 4th quarter valued at $281,000. Hedge funds and other institutional investors 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.