Cadiz (NASDAQ:CDZI) Rating Increased to Hold at Wall Street Zen

Cadiz (NASDAQ:CDZI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also issued research reports about the company. Zacks Research upgraded Cadiz from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cadiz in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.00.

Cadiz Stock Performance

NASDAQ CDZI opened at $5.58 on Friday. The stock has a market cap of $463.34 million, a PE ratio of -10.93 and a beta of 1.90. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.55 and a current ratio of 1.81. The firm has a 50-day moving average of $5.16 and a 200-day moving average of $3.89. Cadiz has a 52-week low of $2.13 and a 52-week high of $6.49.

Cadiz (NASDAQ:CDZI) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $4.15 million during the quarter, compared to the consensus estimate of $3.90 million. Cadiz had a negative net margin of 217.49% and a negative return on equity of 97.55%. On average, sell-side analysts anticipate that Cadiz will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Cadiz

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC bought a new stake in shares of Cadiz during the 2nd quarter valued at $32,000. ProShare Advisors LLC acquired a new position in Cadiz in the second quarter valued at about $34,000. Quarry LP bought a new stake in Cadiz during the third quarter worth about $40,000. Virtu Financial LLC bought a new stake in Cadiz during the first quarter worth about $41,000. Finally, Evelyn Partners Investment Management LLP grew its stake in Cadiz by 1,526.4% during the second quarter. Evelyn Partners Investment Management LLP now owns 15,191 shares of the company’s stock worth $45,000 after buying an additional 14,257 shares in the last quarter. 79.75% of the stock is owned by institutional investors and hedge funds.

About Cadiz

Cadiz Inc, together with its subsidiaries, provides water solutions in the United States. The company operates through Land and Water Resources; and Water Filtration Technology segments. It offers water supply, water storage, water conveyance, and water filtration services. In addition, the company is involved in the cultivation of grain crops and alfalfa, as well as provides water filtration solutions for impaired or contaminated groundwater sources.