Cadiz (NASDAQ:CDZI) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Cadiz, Inc. (NASDAQ:CDZI)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.25 and traded as low as $5.05. Cadiz shares last traded at $5.09, with a volume of 276,427 shares.

Analyst Upgrades and Downgrades

CDZI has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cadiz in a report on Wednesday, January 21st. Wall Street Zen downgraded Cadiz from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, Maxim Group assumed coverage on Cadiz in a research note on Monday, February 2nd. They issued a “buy” rating and a $10.00 price objective for the company. Two research analysts have 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Cadiz Price Performance

The firm has a market cap of $399.76 million, a P/E ratio of -9.82 and a beta of 2.05. 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 stock’s 50-day simple moving average is $5.56 and its two-hundred day simple moving average is $5.24.

Institutional Trading of Cadiz

Institutional investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC bought a new position in shares of Cadiz during the second quarter valued at approximately $32,000. ProShare Advisors LLC purchased a new stake in shares of Cadiz in the second quarter worth approximately $34,000. Quarry LP bought a new stake in shares of Cadiz during the 3rd quarter worth approximately $40,000. Evelyn Partners Investment Management LLP lifted its stake in shares of Cadiz by 1,526.4% during the 2nd quarter. Evelyn Partners Investment Management LLP now owns 15,191 shares of the company’s stock worth $45,000 after acquiring an additional 14,257 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Cadiz by 115.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock valued at $52,000 after acquiring an additional 5,935 shares during the period. Institutional investors own 79.75% of the company’s stock.

About Cadiz

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.