Cadiz, Inc. (CDZI) PT Set at $18.00 by B. Riley
Cadiz, Inc. (NASDAQ:CDZI) received a $18.00 price target from stock analysts at B. Riley in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the stock. B. Riley’s target price would indicate a potential upside of 40.90% from the company’s current price.
Separately, BidaskClub downgraded shares of Cadiz from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th.
Cadiz (NASDAQ CDZI) traded up 0.79% during trading on Monday, hitting $12.80. 95,941 shares of the stock traded hands. The company’s 50 day moving average is $12.13 and its 200 day moving average is $13.44. The company’s market capitalization is $284.89 million. Cadiz has a one year low of $6.85 and a one year high of $16.25.
In related news, CFO Timothy J. Shaheen sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $12.30, for a total value of $615,000.00. Following the completion of the transaction, the chief financial officer now owns 148,500 shares of the company’s stock, valued at $1,826,550. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.56% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its position in Cadiz by 10.6% in the second quarter. Janney Montgomery Scott LLC now owns 105,151 shares of the company’s stock valued at $1,420,000 after purchasing an additional 10,088 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Cadiz in the second quarter valued at $142,000. Nationwide Fund Advisors bought a new position in Cadiz in the second quarter valued at $157,000. Ironsides Asset Advisors LLC bought a new position in Cadiz in the second quarter valued at $171,000. Finally, Wells Fargo & Company MN grew its position in Cadiz by 30.7% in the second quarter. Wells Fargo & Company MN now owns 66,402 shares of the company’s stock valued at $897,000 after purchasing an additional 15,600 shares in the last quarter. 52.75% of the stock is owned by institutional investors and hedge funds.
Cadiz Inc is a land and water resource development company. As of December 31, 2016, the Company had 45,000 acres of land in three areas of eastern San Bernardino County, California. The Company’s primary business is to acquire and develop land with water resources for various uses, including groundwater supply, groundwater storage and agriculture.
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