Connective Capital Management LLC Buys New Shares in Cadiz Inc. (NASDAQ:CDZI)

Connective Capital Management LLC bought a new stake in Cadiz Inc. (NASDAQ:CDZI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 62,976 shares of the company’s stock, valued at approximately $327,000. Connective Capital Management LLC owned 0.08% of Cadiz as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in CDZI. Barclays PLC lifted its stake in shares of Cadiz by 315.6% in the third quarter. Barclays PLC now owns 60,217 shares of the company’s stock valued at $183,000 after buying an additional 45,728 shares during the period. SG Americas Securities LLC lifted its stake in shares of Cadiz by 31.6% in the fourth quarter. SG Americas Securities LLC now owns 19,717 shares of the company’s stock valued at $103,000 after buying an additional 4,737 shares during the period. Equitec Proprietary Markets LLC lifted its stake in shares of Cadiz by 71.4% in the fourth quarter. Equitec Proprietary Markets LLC now owns 142,574 shares of the company’s stock valued at $741,000 after buying an additional 59,400 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Cadiz by 11.9% in the fourth quarter. Bank of New York Mellon Corp now owns 101,719 shares of the company’s stock valued at $529,000 after buying an additional 10,790 shares during the period. Finally, SLT Holdings LLC bought a new stake in shares of Cadiz in the fourth quarter valued at about $125,000. Institutional investors own 79.75% of the company’s stock.

Cadiz Stock Up 1.1%

Shares of CDZI opened at $2.87 on Wednesday. The stock has a market cap of $234.98 million, a price-to-earnings ratio of -5.63 and a beta of 1.77. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 3.88. Cadiz Inc. has a 12 month low of $2.13 and a 12 month high of $5.68. The company has a 50-day moving average price of $2.91 and a two-hundred day moving average price of $3.85.

Cadiz (NASDAQ:CDZI) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). Cadiz had a negative return on equity of 93.78% and a negative net margin of 528.15%. The business had revenue of $2.95 million for the quarter, compared to the consensus estimate of $4.77 million. Equities analysts predict that Cadiz Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CDZI has been the subject of several research reports. Roth Capital assumed coverage on shares of Cadiz in a research note on Thursday, April 17th. They issued a “buy” rating and a $10.00 target price for the company. StockNews.com upgraded shares of Cadiz to a “sell” rating in a research note on Wednesday, March 5th.

Cadiz Company Profile

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.