Cadiz (NASDAQ:CDZI) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Cadiz (NASDAQ:CDZI) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Other equities research analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cadiz in a report on Wednesday, October 8th. Zacks Research raised shares of Cadiz from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.00.

Cadiz Trading Up 8.1%

Shares of CDZI opened at $5.20 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.55 and a current ratio of 1.81. Cadiz has a 52-week low of $2.13 and a 52-week high of $6.10. The firm has a market cap of $426.84 million, a price-to-earnings ratio of -10.20 and a beta of 1.90. The business’s fifty day moving average is $4.81 and its 200-day moving average is $3.71.

Cadiz (NASDAQ:CDZI) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Cadiz had a negative net margin of 217.49% and a negative return on equity of 97.55%. The business had revenue of $4.15 million during the quarter, compared to analyst estimates of $3.90 million. Equities analysts anticipate that Cadiz will post -0.47 EPS for the current fiscal year.

Institutional Trading of Cadiz

Several institutional investors have recently modified their holdings of CDZI. Bank of New York Mellon Corp increased its holdings in Cadiz by 55.6% in the first quarter. Bank of New York Mellon Corp now owns 158,312 shares of the company’s stock valued at $464,000 after purchasing an additional 56,593 shares during the period. Brookwood Investment Group LLC acquired a new stake in shares of Cadiz in the first quarter valued at about $62,000. American Assets Investment Management LLC increased its stake in shares of Cadiz by 1,158.1% in the first quarter. American Assets Investment Management LLC now owns 1,897,217 shares of the company’s stock valued at $5,559,000 after buying an additional 1,746,416 shares during the period. Levin Capital Strategies L.P. raised its position in shares of Cadiz by 4.7% during the first quarter. Levin Capital Strategies L.P. now owns 3,066,380 shares of the company’s stock worth $8,984,000 after acquiring an additional 136,528 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Cadiz by 171.8% in the first quarter. Deutsche Bank AG now owns 41,266 shares of the company’s stock worth $121,000 after acquiring an additional 26,086 shares during the period. 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.