Cadiz (NASDAQ:CDZI) Shares Down 7.8% – What’s Next?

Shares of Cadiz, Inc. (NASDAQ:CDZI) fell 7.8% on Tuesday . The stock traded as low as $6.44 and last traded at $6.38. 265,596 shares changed hands during trading, a decline of 72% from the average session volume of 943,080 shares. The stock had previously closed at $6.92.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CDZI. Wall Street Zen upgraded shares of Cadiz from a “sell” rating to a “hold” rating in a research note on Saturday, November 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cadiz in a report on Wednesday, October 8th. One equities research 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. Based on data from MarketBeat.com, Cadiz has an average rating of “Hold” and an average target price of $10.00.

Cadiz Stock Down 7.8%

The stock’s fifty day simple moving average is $5.69 and its two-hundred day simple moving average is $4.62. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.26 and a quick ratio of 0.96. The company has a market capitalization of $530.24 million, a price-to-earnings ratio of -13.02 and a beta of 2.02.

Cadiz (NASDAQ:CDZI) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $4.15 million during the quarter, compared to analyst estimates of $3.90 million. Cadiz had a negative net margin of 206.65% and a negative return on equity of 93.48%. On average, sell-side analysts predict that Cadiz, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Cadiz

A number of institutional investors and hedge funds have recently made changes to their positions in CDZI. AQR Capital Management LLC bought a new stake in shares of Cadiz in the 1st quarter worth approximately $79,000. Delta Investment Management LLC increased its position in Cadiz by 12.8% in the second quarter. Delta Investment Management LLC now owns 154,681 shares of the company’s stock worth $462,000 after buying an additional 17,500 shares during the period. GAM Holding AG acquired a new stake in Cadiz in the second quarter worth $1,196,000. Levin Capital Strategies L.P. lifted its stake in Cadiz by 5.7% in the second quarter. Levin Capital Strategies L.P. now owns 3,242,522 shares of the company’s stock valued at $9,695,000 after buying an additional 176,142 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Cadiz in the second quarter valued at $410,000. 79.75% of the stock is currently owned by institutional investors and hedge funds.

Cadiz Company Profile

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.