Wall Street Zen Downgrades Cadiz (NASDAQ:CDZI) to Sell

Cadiz (NASDAQ:CDZI) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research analysts also recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cadiz in a report on Wednesday, January 21st. Maxim Group began coverage on shares of Cadiz in a report on Monday, February 2nd. They issued a “buy” rating and a $10.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cadiz presently has an average rating of “Hold” and an average price target of $10.00.

Cadiz Stock Performance

CDZI stock opened at $4.67 on Friday. The firm has a market cap of $388.12 million, a PE ratio of -9.53 and a beta of 2.03. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 3.14. The stock has a 50-day moving average price of $5.80 and a 200-day moving average price of $4.89. Cadiz has a 1-year low of $2.13 and a 1-year high of $6.96.

Cadiz (NASDAQ:CDZI) last issued its earnings results on Thursday, November 13th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $4.15 million for the quarter, compared to the consensus estimate of $3.90 million. Cadiz had a negative return on equity of 93.48% and a negative net margin of 206.65%. As a group, equities research analysts expect that Cadiz will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Neuberger Berman Group LLC purchased a new position in Cadiz in the second quarter valued at approximately $32,000. ProShare Advisors LLC purchased a new position in shares of Cadiz during the 2nd quarter valued at $34,000. Quarry LP bought a new position in shares of Cadiz during the 3rd quarter worth $40,000. Evelyn Partners Investment Management LLP grew 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 period. Finally, BNP Paribas Financial Markets increased its holdings in Cadiz by 115.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock worth $52,000 after acquiring an additional 5,935 shares during the last quarter. 79.75% of the stock is owned by institutional investors.

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.