Cadiz (NASDAQ:CDZI) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of Cadiz (NASDAQ:CDZI) from a strong sell rating to a hold rating in a research note published on Thursday,Zacks reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cadiz in a research note on Tuesday, September 1st. One 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.00.

Cadiz Trading Down 4.8%

Shares of NASDAQ:CDZI traded down $0.16 during trading on Thursday, reaching $3.16. 737,529 shares of the company were exchanged, compared to its average volume of 1,240,242. The firm has a market capitalization of $268.66 million, a PE ratio of -6.32 and a beta of 1.82. The business’s fifty day simple moving average is $3.79 and its 200-day simple moving average is $4.24. Cadiz has a 12-month low of $2.87 and a 12-month high of $6.96. The company has a debt-to-equity ratio of 24.97, a current ratio of 1.16 and a quick ratio of 0.96.

Cadiz (NASDAQ:CDZI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Cadiz had a negative net margin of 311.03% and a negative return on equity of 206.79%. The company had revenue of $0.98 million for the quarter, compared to the consensus estimate of $3.07 million. On average, research analysts anticipate that Cadiz will post -0.55 EPS for the current year.

Institutional Trading of Cadiz

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC purchased a new position in shares of Cadiz in the 3rd quarter valued at $397,000. Joel Isaacson & Co. LLC bought a new position in shares of Cadiz in the 3rd quarter worth $82,000. Lido Advisors LLC lifted its stake in shares of Cadiz by 91.7% during the 3rd quarter. Lido Advisors LLC now owns 38,337 shares of the company’s stock worth $150,000 after purchasing an additional 18,337 shares during the last quarter. Strid Group LLC purchased a new stake in shares of Cadiz during the 3rd quarter worth $48,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of Cadiz during the 3rd quarter worth $196,000. Institutional investors own 79.75% of the company’s stock.

Cadiz Company Profile

Cadiz Inc. is a California-based land and water resource development company. It owns property in the eastern Mojave Desert, where it works on projects involving groundwater conservation, storage and delivery. The company’s principal water initiative, the Cadiz Water Project, is designed to capture and store groundwater and make supplies available to communities and water agencies in Southern California. The project depends on developing the infrastructure and obtaining necessary approvals. Cadiz also operates an agricultural business in the Mojave region, growing crops including lemons.