Cadiz (CDZI) Expected to Announce Earnings on Friday

Cadiz (NASDAQ:CDZI) is expected to post its results before the market opens on Friday, March 27th. Analysts expect Cadiz to post earnings of $0.54 per share and revenue of $4.80 million for the quarter.

Cadiz Stock Performance

Shares of CDZI stock opened at $4.81 on Friday. The company has a market cap of $399.76 million, a price-to-earnings ratio of -9.82 and a beta of 2.05. Cadiz has a 52 week low of $2.13 and a 52 week high of $6.96. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 3.14. The firm has a 50 day moving average of $5.54 and a 200-day moving average of $5.24.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CDZI. Maxim Group began coverage on shares of Cadiz in a research report on Monday, February 2nd. They set a “buy” rating and a $10.00 target price on the stock. Wall Street Zen cut shares of Cadiz from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cadiz in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.00.

Institutional Investors Weigh In On Cadiz

Several hedge funds and other institutional investors have recently modified their holdings of CDZI. Virtu Financial LLC acquired a new position in shares of Cadiz during the fourth quarter worth approximately $57,000. Invesco Ltd. grew its position in Cadiz by 31.0% in the 4th quarter. Invesco Ltd. now owns 24,673 shares of the company’s stock valued at $138,000 after purchasing an additional 5,835 shares during the period. XTX Topco Ltd bought a new stake in Cadiz during the 4th quarter valued at $300,000. Cinctive Capital Management LP raised its holdings in Cadiz by 85.8% during the fourth quarter. Cinctive Capital Management LP now owns 193,002 shares of the company’s stock worth $1,083,000 after buying an additional 89,108 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Cadiz by 33.7% during the fourth quarter. AQR Capital Management LLC now owns 38,235 shares of the company’s stock worth $214,000 after buying an additional 9,634 shares during the last quarter. 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.