Ingalls & Snyder LLC Trims Stock Position in Cadiz, Inc. $CDZI

Ingalls & Snyder LLC lessened its stake in shares of Cadiz, Inc. (NASDAQ:CDZI) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,600 shares of the company’s stock after selling 5,100 shares during the quarter. Ingalls & Snyder LLC owned about 0.12% of Cadiz worth $295,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Virtu Financial LLC purchased a new position in Cadiz during the 1st quarter worth $41,000. Brookwood Investment Group LLC purchased a new position in Cadiz during the 1st quarter worth $62,000. AQR Capital Management LLC purchased a new position in Cadiz during the first quarter worth about $79,000. Deutsche Bank AG raised its holdings in Cadiz by 171.8% during the first quarter. Deutsche Bank AG now owns 41,266 shares of the company’s stock worth $121,000 after purchasing an additional 26,086 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Cadiz by 92.2% during the first quarter. Russell Investments Group Ltd. now owns 70,980 shares of the company’s stock worth $208,000 after purchasing an additional 34,045 shares in the last quarter. Hedge funds and other institutional investors own 79.75% of the company’s stock.

Cadiz Stock Performance

NASDAQ CDZI opened at $5.47 on Tuesday. Cadiz, Inc. has a 1-year low of $2.13 and a 1-year high of $6.10. The company has a market capitalization of $448.65 million, a P/E ratio of -10.73 and a beta of 1.89. The business has a 50 day moving average price of $4.38 and a 200 day moving average price of $3.47. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.81 and a quick ratio of 1.55.

Cadiz (NASDAQ:CDZI) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Cadiz had a negative net margin of 217.49% and a negative return on equity of 97.55%. The firm had revenue of $4.13 million during the quarter, compared to analysts’ expectations of $3.90 million. Sell-side analysts expect that Cadiz, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Cadiz in a research note on Wednesday, October 8th. Zacks Research upgraded Cadiz from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, Wall Street Zen upgraded Cadiz from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.00.

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.