Cadiz (NASDAQ:CDZI) Share Price Passes Below 200 Day Moving Average – What’s Next?

Cadiz, Inc. (NASDAQ:CDZI) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.14 and traded as low as $3.78. Cadiz shares last traded at $4.02, with a volume of 689,887 shares traded.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wall Street Zen cut Cadiz from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 11th. Zacks Research upgraded Cadiz from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Weiss Ratings cut Cadiz from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cadiz has a consensus rating of “Hold” and an average price target of $10.00.

Cadiz Price Performance

The company has a debt-to-equity ratio of 7.32, a current ratio of 1.88 and a quick ratio of 1.76. The firm has a 50-day moving average of $4.50 and a 200-day moving average of $5.14. The stock has a market cap of $338.04 million, a PE ratio of -8.74 and a beta of 1.81.

Cadiz (NASDAQ:CDZI) last released its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Cadiz had a negative return on equity of 129.97% and a negative net margin of 221.43%.The business had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $4.48 million. Research analysts predict that Cadiz, Inc. will post -0.4 EPS for the current year.

Insider Activity

In other Cadiz news, Director David Mark O’hara bought 110,865 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $4.58 per share, for a total transaction of $507,761.70. Following the completion of the transaction, the director owned 117,841 shares of the company’s stock, valued at $539,711.78. This trade represents a 1,589.23% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.31% of the company’s stock.

Institutional Trading of Cadiz

Several institutional investors have recently made changes to their positions in the business. Levin Capital Strategies L.P. grew its position in shares of Cadiz by 4.1% during the first quarter. Levin Capital Strategies L.P. now owns 3,816,169 shares of the company’s stock worth $18,737,000 after purchasing an additional 149,846 shares in the last quarter. Bank of America Corp DE grew its position in shares of Cadiz by 0.3% during the first quarter. Bank of America Corp DE now owns 3,528,294 shares of the company’s stock worth $17,324,000 after purchasing an additional 9,473 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cadiz by 4.7% during the third quarter. Vanguard Group Inc. now owns 3,035,901 shares of the company’s stock valued at $14,329,000 after buying an additional 135,343 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cadiz by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,325,245 shares of the company’s stock valued at $7,437,000 after buying an additional 17,117 shares in the last quarter. Finally, State Street Corp grew its holdings in Cadiz by 2.4% during the 4th quarter. State Street Corp now owns 1,270,020 shares of the company’s stock valued at $7,125,000 after buying an additional 30,016 shares in the last quarter. Hedge funds and other institutional investors own 79.75% of the company’s stock.

About Cadiz

Cadiz, Inc (NASDAQ: CDZI) is a Southern California–based water resource management company focused on developing and operating groundwater storage, recovery and conveyance projects. The company holds water rights and mineral rights on approximately 34,000 acres in the Mojave Desert and is chiefly known for advancing the Cadiz Water Project, a planned system to capture, store and distribute groundwater to urban and agricultural users in the region.

The company’s primary business activity centers on the development of infrastructure that enables sustainable groundwater banking.