Potomac Capital Management Inc. Purchases New Holdings in Cadiz, Inc. $CDZI

by · The Cerbat Gem

Potomac Capital Management Inc. purchased a new stake in Cadiz, Inc. (NASDAQ:CDZI – Free Report) during the 4th quarter, Holdings Channel.com reports. The fund purchased 335,000 shares of the company’s stock, valued at approximately $1,879,000. Cadiz comprises 1.5% of Potomac Capital Management Inc.’s investment portfolio, making the stock its 19th largest holding.

Several other institutional investors have also recently added to or reduced their stakes in the stock. LPL Financial LLC acquired a new position in Cadiz in the 4th quarter valued at about $56,000. Los Angeles Capital Management LLC increased its position in Cadiz by 92.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 178,251 shares of the company’s stock valued at $941,000 after acquiring an additional 85,546 shares during the period. Goldman Sachs Group Inc. increased its position in Cadiz by 135.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 357,572 shares of the company’s stock valued at $2,006,000 after acquiring an additional 205,598 shares during the period. AXQ Capital LP acquired a new position in Cadiz in the 4th quarter valued at about $76,000. Finally, Intech Investment Management LLC increased its position in Cadiz by 40.6% in the 4th quarter. Intech Investment Management LLC now owns 37,429 shares of the company’s stock valued at $210,000 after acquiring an additional 10,804 shares during the period. Institutional investors and hedge funds own 79.75% of the company’s stock.

Cadiz Stock Performance

NASDAQ CDZI opened at $4.02 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.76 and a debt-to-equity ratio of 7.32. The business’s 50 day moving average is $4.63 and its two-hundred day moving average is $5.21. Cadiz, Inc. has a 12-month low of $2.75 and a 12-month high of $6.96. The stock has a market capitalization of $338.04 million, a price-to-earnings ratio of -8.74 and a beta of 1.81.

Cadiz (NASDAQ:CDZI – Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Cadiz had a negative return on equity of 129.97% and a negative net margin of 221.43%.The business had revenue of $1.63 million for the quarter, compared to analyst estimates of $4.48 million. Research analysts expect that Cadiz, Inc. will post -0.4 EPS for the current year.

Insider Transactions at Cadiz

In other Cadiz news, Director David Mark O’hara bought 110,865 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $4.58 per share, for a total transaction of $507,761.70. Following the transaction, the director owned 117,841 shares of the company’s stock, valued at approximately $539,711.78. This trade represents a 1,589.23% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CDZI. Weiss Ratings cut Cadiz from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. Zacks Research upgraded Cadiz from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Wall Street Zen cut Cadiz from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Check Out Our Latest Report on Cadiz

Cadiz Company Profile

(Free Report)

Cadiz, Inc (NASDAQ: CDZI) is a Southern California–based water resource management company focused on developing and operating groundwater storage, recovery and conveyance projects. The company holds water rights and mineral rights on approximately 34,000 acres in the Mojave Desert and is chiefly known for advancing the Cadiz Water Project, a planned system to capture, store and distribute groundwater to urban and agricultural users in the region.

The company’s primary business activity centers on the development of infrastructure that enables sustainable groundwater banking.

Further Reading

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