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

Cadiz, Inc. (NASDAQ:CDZI)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.97 and traded as low as $4.76. Cadiz shares last traded at $4.91, with a volume of 453,283 shares trading hands.

Analyst Upgrades and Downgrades

CDZI has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cadiz in a research 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 started coverage on Cadiz in a research note on Monday, February 2nd. They issued a “buy” rating and a $10.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.00.

Cadiz Price Performance

The company’s 50-day moving average price is $5.71 and its 200-day moving average price is $4.97. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 3.14. The firm has a market cap of $408.07 million, a price-to-earnings ratio of -10.02 and a beta of 2.03.

Cadiz (NASDAQ:CDZI) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $4.15 million during the quarter, compared to analyst estimates of $3.90 million. Cadiz had a negative net margin of 206.65% and a negative return on equity of 93.48%. On average, equities research analysts forecast that Cadiz, Inc. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new stake in Cadiz in the 1st quarter valued at about $79,000. Delta Investment Management LLC increased its stake in shares of Cadiz by 12.8% during the second quarter. Delta Investment Management LLC now owns 154,681 shares of the company’s stock worth $462,000 after buying an additional 17,500 shares during the period. GAM Holding AG acquired a new stake in Cadiz in the second quarter valued at approximately $1,196,000. Levin Capital Strategies L.P. raised its holdings in Cadiz by 5.7% in the second quarter. Levin Capital Strategies L.P. now owns 3,242,522 shares of the company’s stock valued at $9,695,000 after acquiring an additional 176,142 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Cadiz in the second quarter worth approximately $410,000. 79.75% of the stock is owned by institutional investors and hedge funds.

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.