BidaskClub Upgrades Cadiz (CDZI) to Hold

BidaskClub upgraded shares of Cadiz (NASDAQ:CDZI) from a sell rating to a hold rating in a research note released on Friday.

NASDAQ:CDZI traded up $0.06 during mid-day trading on Friday, reaching $11.01. 136,474 shares of the stock were exchanged, compared to its average volume of 122,152. The company has a debt-to-equity ratio of -1.94, a quick ratio of 6.54 and a current ratio of 6.54. Cadiz has a 1 year low of $8.85 and a 1 year high of $14.75.

A number of large investors have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its stake in Cadiz by 4.3% during the 2nd quarter. Northern Trust Corp now owns 281,876 shares of the company’s stock worth $3,692,000 after buying an additional 11,558 shares during the last quarter. Marshall Wace LLP grew its stake in Cadiz by 90.6% during the 2nd quarter. Marshall Wace LLP now owns 116,033 shares of the company’s stock worth $1,520,000 after buying an additional 55,149 shares during the last quarter. Wafra Inc. purchased a new position in Cadiz during the 2nd quarter worth approximately $1,821,000. BlackRock Inc. grew its stake in Cadiz by 19.9% during the 2nd quarter. BlackRock Inc. now owns 1,462,786 shares of the company’s stock worth $19,162,000 after buying an additional 242,640 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in Cadiz during the 2nd quarter worth approximately $295,000. Hedge funds and other institutional investors own 48.09% of the company’s stock.

Cadiz Company Profile

Cadiz Inc operates as a land and water resource development company in the United States. It engages in the water resource, and land and agricultural development activities in San Bernardino County properties. The company owns approximately 34,500 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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