Cadiz (NASDAQ:CDZI) Upgraded to “Sell” at StockNews.com

Cadiz (NASDAQ:CDZI) was upgraded by stock analysts at StockNews.com to a “sell” rating in a research note issued on Friday.

Cadiz Trading Up 2.5 %

Cadiz stock traded up $0.08 during trading hours on Friday, reaching $3.32. The stock had a trading volume of 631,022 shares, compared to its average volume of 208,912. The company has a fifty day simple moving average of $3.15 and a 200-day simple moving average of $3.12. Cadiz has a 52 week low of $2.12 and a 52 week high of $3.85. The stock has a market cap of $226.36 million, a PE ratio of -6.51 and a beta of 0.85. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.89 and a quick ratio of 1.40.

Cadiz (NASDAQ:CDZI) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). Cadiz had a negative net margin of 528.15% and a negative return on equity of 84.32%. The business had revenue of $0.51 million for the quarter, compared to analysts’ expectations of $4.00 million. Analysts forecast that Cadiz will post -0.46 EPS for the current fiscal year.

Insider Activity at Cadiz

In related news, major shareholder International Group Se Heerema purchased 2,070,000 shares of Cadiz stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $3.34 per share, for a total transaction of $6,913,800.00. Following the completion of the transaction, the insider now directly owns 22,783,965 shares of the company’s stock, valued at $76,098,443.10. This represents a 9.99 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Cadiz

Several large investors have recently bought and sold shares of CDZI. Nisa Investment Advisors LLC purchased a new position in shares of Cadiz in the 2nd quarter valued at approximately $31,000. SG Americas Securities LLC purchased a new position in Cadiz during the third quarter valued at $45,000. The Manufacturers Life Insurance Company bought a new stake in shares of Cadiz during the 3rd quarter valued at $58,000. BNP Paribas Financial Markets increased its stake in shares of Cadiz by 27.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,386 shares of the company’s stock worth $62,000 after acquiring an additional 4,329 shares in the last quarter. Finally, Joel Isaacson & Co. LLC lifted its position in Cadiz by 70.8% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 20,500 shares of the company’s stock valued at $62,000 after acquiring an additional 8,500 shares during the period. 79.75% of the stock is owned by institutional investors.

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.