Cadiz Target of Unusually High Options Trading (NASDAQ:CDZI)

Cadiz, Inc. (NASDAQ:CDZI) saw unusually large options trading on Monday. Traders acquired 4,366 call options on the company. This represents an increase of approximately 207% compared to the average daily volume of 1,420 call options.

Analyst Ratings Changes

Several research firms have recently commented on CDZI. Wall Street Zen lowered Cadiz from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cadiz in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Cadiz from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.00.

Institutional Trading of Cadiz

Several institutional investors have recently bought and sold shares of CDZI. JPMorgan Chase & Co. raised its stake in shares of Cadiz by 12.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 26,889 shares of the company’s stock worth $80,000 after buying an additional 3,074 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Cadiz by 28.9% in the 2nd 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cadiz by 20.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,072 shares of the company’s stock worth $90,000 after acquiring an additional 5,012 shares in the last quarter. BNP Paribas Financial Markets raised 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 worth $52,000 after acquiring an additional 5,935 shares during the period. Finally, Parkshore Wealth Management Inc. lifted its holdings in Cadiz by 3.3% during the first quarter. Parkshore Wealth Management Inc. now owns 255,618 shares of the company’s stock valued at $749,000 after purchasing an additional 8,174 shares in the last quarter. 79.75% of the stock is owned by institutional investors and hedge funds.

Cadiz Stock Up 7.4%

Shares of Cadiz stock traded up $0.38 during trading on Monday, reaching $5.58. The company’s stock had a trading volume of 2,005,040 shares, compared to its average volume of 645,916. The company has a quick ratio of 1.55, a current ratio of 1.81 and a debt-to-equity ratio of 2.40. The company has a market cap of $458.28 million, a price-to-earnings ratio of -10.95 and a beta of 1.90. Cadiz has a 1-year low of $2.13 and a 1-year high of $6.10. The company has a 50-day simple moving average of $4.81 and a two-hundred day simple moving average of $3.72.

Cadiz (NASDAQ:CDZI) last announced its earnings results on Thursday, November 13th. The company reported ($0.10) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $3.90 million. As a group, equities analysts forecast that Cadiz will post -0.47 earnings per share for the current year.

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.