Cadiz (NASDAQ:CDZI) Announces Earnings Results

Cadiz (NASDAQ:CDZI) announced its quarterly earnings results on Thursday. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02), FiscalAI reports. The business had revenue of $1.63 million for the quarter, compared to analyst estimates of $4.56 million. Cadiz had a negative net margin of 209.35% and a negative return on equity of 104.61%.

Cadiz Stock Performance

Shares of Cadiz stock traded down $0.05 on Thursday, reaching $4.64. 538,180 shares of the company were exchanged, compared to its average volume of 859,033. The company has a debt-to-equity ratio of 4.33, a quick ratio of 1.13 and a current ratio of 1.22. The company’s 50-day moving average is $4.89 and its two-hundred day moving average is $5.32. The firm has a market cap of $388.37 million, a price-to-earnings ratio of -9.67 and a beta of 1.79. Cadiz has a 1-year low of $2.58 and a 1-year high of $6.96.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CDZI shares. Zacks Research cut Cadiz from a “hold” rating to a “strong sell” rating in a research note on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cadiz in a report on Monday, April 20th. Wall Street Zen downgraded Cadiz from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. Finally, Maxim Group began coverage on shares of Cadiz in a report on Monday, February 2nd. They issued a “buy” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Cadiz presently has a consensus rating of “Reduce” and an average target price of $10.00.

Institutional Trading of Cadiz

Large investors have recently modified their holdings of the company. Quarry LP acquired a new stake in Cadiz in the 3rd quarter valued at approximately $40,000. LPL Financial LLC acquired a new position in Cadiz during the 4th quarter valued at about $56,000. Virtu Financial LLC acquired a new position in Cadiz during the 4th quarter valued at about $57,000. BNP Paribas Financial Markets increased its stake in Cadiz by 115.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock valued at $52,000 after buying an additional 5,935 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Cadiz during the 3rd quarter valued at $56,000. Institutional investors and hedge funds 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.