StockNews.com Upgrades Cadiz (NASDAQ:CDZI) to Sell

StockNews.com upgraded shares of Cadiz (NASDAQ:CDZI) to a sell rating in a report released on Friday.

Cadiz Price Performance

Shares of NASDAQ:CDZI traded up $0.08 during midday trading on Friday, hitting $3.32. The company had a trading volume of 631,242 shares, compared to its average volume of 208,912. The business’s 50-day simple moving average is $3.15 and its 200-day simple moving average is $3.12. Cadiz has a twelve month low of $2.12 and a twelve month high of $3.85. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.89 and a quick ratio of 1.40. The stock has a market cap of $226.36 million, a price-to-earnings ratio of -6.51 and a beta of 0.85.

Cadiz (NASDAQ:CDZI) last posted its earnings results on Tuesday, August 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.05). Cadiz had a negative return on equity of 84.32% and a negative net margin of 528.15%. The business had revenue of $0.51 million for the quarter, compared to analyst estimates of $4.00 million. On average, research analysts predict that Cadiz will post -0.46 earnings per share for the current year.

Insider Activity at Cadiz

In other Cadiz news, major shareholder International Group Se Heerema acquired 2,070,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average cost of $3.34 per share, with a total value of $6,913,800.00. Following the transaction, the insider now owns 22,783,965 shares in the company, valued at $76,098,443.10. The trade was a 9.99 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Cadiz

Several institutional investors have recently modified their holdings of CDZI. Nisa Investment Advisors LLC acquired a new stake in Cadiz during the 2nd quarter worth $31,000. SG Americas Securities LLC acquired a new stake in shares of Cadiz in the 3rd quarter valued at about $45,000. The Manufacturers Life Insurance Company purchased a new position in Cadiz during the 3rd quarter worth approximately $58,000. Joel Isaacson & Co. LLC increased its position in Cadiz by 70.8% during the third quarter. Joel Isaacson & Co. LLC now owns 20,500 shares of the company’s stock worth $62,000 after buying an additional 8,500 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Cadiz by 27.0% during the third quarter. BNP Paribas Financial Markets now owns 20,386 shares of the company’s stock worth $62,000 after buying an additional 4,329 shares during the period. Hedge funds and other institutional investors own 79.75% of the company’s stock.

About Cadiz

Cadiz Inc, together with its subsidiaries, provides water solutions in the United States. The company operates through Land and Water Resources; and Water Filtration Technology segments. It offers water supply, water storage, water conveyance, and water filtration services. In addition, the company is involved in the cultivation of grain crops and alfalfa, as well as provides water filtration solutions for impaired or contaminated groundwater sources.