Short Interest in Cadiz Inc. (NASDAQ:CDZIP) Drops By 35.8%

Cadiz Inc. (NASDAQ:CDZIP) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 3,896 shares, a drop of 35.8% from the May 14th total of 6,069 shares. Based on an average daily trading volume, of 6,458 shares, the days-to-cover ratio is currently 0.6 days.

Cadiz Trading Down 1.0%

NASDAQ CDZIP opened at $23.22 on Wednesday. Cadiz has a fifty-two week low of $16.41 and a fifty-two week high of $24.78. The stock has a 50 day simple moving average of $20.72 and a two-hundred day simple moving average of $19.92.

Cadiz Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, April 3rd were issued a $0.56 dividend. This is an increase from Cadiz’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, April 2nd. This represents a $2.24 annualized dividend and a yield of 9.6%.

Cadiz Company Profile

Cadiz, Inc (NASDAQ: CDZIP) is a land and water resource management company focused on developing sustainable water supply solutions in Southern California. The company holds approximately 36,000 acres of desert land in the Mojave Basin, where it has pursued the Cadiz Water Project—a plan to capture and convey groundwater to regional municipal and industrial customers. Cadiz oversees the permitting, design, and construction of conveyance infrastructure, including an engineered pipeline and pumping stations.

In addition to its water development activities, Cadiz operates agricultural ventures on its desert holdings, growing crops such as alfalfa while restoring degraded soils and maintaining native habitat.