Cadiz (NASDAQ:CDZI) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Cadiz, Inc. (NASDAQ:CDZI) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.95 and traded as low as $3.67. Cadiz shares last traded at $3.83, with a volume of 2,951,995 shares traded.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Cadiz from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 4th. Wall Street Zen downgraded shares of Cadiz from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. Finally, Zacks Research raised shares of Cadiz from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cadiz has an average rating of “Hold” and a consensus price target of $10.00.

Cadiz Price Performance

The company has a current ratio of 1.88, a quick ratio of 1.76 and a debt-to-equity ratio of 7.32. The stock has a 50-day moving average price of $4.25 and a 200 day moving average price of $4.95. The stock has a market capitalization of $322.06 million, a price-to-earnings ratio of -8.33 and a beta of 1.83.

Cadiz (NASDAQ:CDZI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The business had revenue of $1.63 million during the quarter, compared to analyst estimates of $4.48 million. Cadiz had a negative return on equity of 129.97% and a negative net margin of 221.43%. As a group, equities research analysts expect that Cadiz, Inc. will post -0.4 earnings per share for the current year.

Insider Activity at Cadiz

In other Cadiz news, Director David Mark O’hara acquired 110,865 shares of the business’s 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 completion of the transaction, the director directly owned 117,841 shares of the company’s stock, valued at $539,711.78. This represents a 1,589.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CDZI. Quarry LP purchased a new position in shares of Cadiz during the 3rd quarter valued at approximately $40,000. BNP Paribas Financial Markets increased its holdings in Cadiz by 115.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock worth $52,000 after acquiring an additional 5,935 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Cadiz in the 4th quarter worth $56,000. LPL Financial LLC acquired a new position in Cadiz during the fourth quarter worth $56,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in Cadiz during the third quarter worth $56,000. 79.75% of the stock is owned by institutional investors and hedge funds.

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.