Cadiz (NASDAQ:CDZI) Director David Mark O’hara Acquires 110,865 Shares

Cadiz, Inc. (NASDAQ:CDZI) Director David Mark O’hara bought 110,865 shares of Cadiz stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $4.58 per share, for a total transaction of $507,761.70. Following the purchase, the director directly owned 117,841 shares in the company, valued at approximately $539,711.78. The trade was a 1,589.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Cadiz Stock Down 1.4%

Shares of NASDAQ CDZI opened at $4.38 on Friday. The firm has a market capitalization of $368.31 million, a PE ratio of -9.52 and a beta of 1.79. The company has a current ratio of 1.88, a quick ratio of 1.76 and a debt-to-equity ratio of 7.32. Cadiz, Inc. has a 1 year low of $2.75 and a 1 year high of $6.96. The firm’s 50-day moving average is $4.69 and its 200-day moving average is $5.25.

Cadiz (NASDAQ:CDZI) last issued 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). The business had revenue of $1.63 million during the quarter, compared to the consensus estimate of $4.48 million. Cadiz had a negative net margin of 221.43% and a negative return on equity of 129.97%. Equities analysts expect that Cadiz, Inc. will post -0.4 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CDZI shares. Zacks Research downgraded shares of Cadiz from a “hold” rating to a “strong sell” rating in a research report on Monday, April 6th. Maxim Group started coverage on shares of Cadiz in a research report on Monday, February 2nd. They issued a “buy” rating and a $10.00 price target on the stock. Wall Street Zen downgraded shares of Cadiz from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cadiz in a research report on Monday, April 20th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Cadiz currently has a consensus rating of “Reduce” and a consensus target price of $10.00.

Institutional Trading of Cadiz

Hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Cadiz during the 3rd quarter worth approximately $40,000. ProShare Advisors LLC acquired a new stake in Cadiz during the 4th quarter worth approximately $56,000. LPL Financial LLC acquired a new stake in Cadiz during the 4th quarter worth approximately $56,000. Virtu Financial LLC acquired a new stake in Cadiz during the 4th quarter worth approximately $57,000. Finally, BNP Paribas Financial Markets raised its holdings in Cadiz by 115.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock worth $52,000 after buying an additional 5,935 shares during the period. 79.75% of the stock is currently owned by institutional investors and hedge funds.

Cadiz Company Profile

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.