Cadiz (NASDAQ:CDZI) Rating Lowered to Strong Sell at Zacks Research

Cadiz (NASDAQ:CDZI) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cadiz in a report on Wednesday, January 21st. Wall Street Zen lowered shares of Cadiz from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Maxim Group began coverage on shares of Cadiz in a research note on Monday, February 2nd. They issued a “buy” rating and a $10.00 price target for the company. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Cadiz Stock Up 2.5%

Cadiz stock traded up $0.12 during trading hours on Monday, hitting $5.01. The stock had a trading volume of 147,848 shares, compared to its average volume of 755,327. 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 stock has a market capitalization of $417.95 million, a P/E ratio of -10.44 and a beta of 2.08. Cadiz has a 12-month low of $2.13 and a 12-month high of $6.96. The stock’s 50-day moving average price is $5.12 and its 200-day moving average price is $5.37.

Cadiz (NASDAQ:CDZI) last issued its earnings results on Tuesday, March 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.67). The firm had revenue of $5.08 million during the quarter, compared to analysts’ expectations of $4.80 million. Cadiz had a negative return on equity of 93.48% and a negative net margin of 206.65%. Equities research analysts anticipate that Cadiz will post -0.47 EPS for the current fiscal year.

Institutional Trading of Cadiz

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in shares of Cadiz by 12.9% in the second quarter. JPMorgan Chase & Co. now owns 26,889 shares of the company’s stock worth $80,000 after acquiring an additional 3,074 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Cadiz by 28.9% in the second quarter. The Manufacturers Life Insurance Company now owns 21,926 shares of the company’s stock worth $66,000 after acquiring an additional 4,918 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Cadiz by 20.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,072 shares of the company’s stock valued at $90,000 after buying an additional 5,012 shares during the period. Invesco Ltd. grew its position in Cadiz by 31.0% during the fourth quarter. Invesco Ltd. now owns 24,673 shares of the company’s stock valued at $138,000 after buying an additional 5,835 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Cadiz by 115.8% during the third quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock valued at $52,000 after buying an additional 5,935 shares during the period. 79.75% of the stock is currently 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.