Cadiz Inc. (NASDAQ:CDZIP) Sees Large Drop in Short Interest

Cadiz Inc. (NASDAQ:CDZIP) was the recipient of a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 343 shares, a decrease of 69.3% from the February 12th total of 1,117 shares. Based on an average trading volume of 7,338 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 7,338 shares, the days-to-cover ratio is currently 0.0 days.

Cadiz Stock Performance

NASDAQ:CDZIP traded down $0.28 during mid-day trading on Thursday, hitting $19.02. 5,432 shares of the stock were exchanged, compared to its average volume of 7,988. The firm’s 50-day simple moving average is $19.44 and its 200 day simple moving average is $19.41. Cadiz has a fifty-two week low of $16.27 and a fifty-two week high of $20.20.

Cadiz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, January 5th were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, January 5th. This represents a $2.20 annualized dividend and a yield of 11.6%.

About Cadiz

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.