Cadiz (NASDAQ:CDZI) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Shares of Cadiz, Inc. (NASDAQ:CDZI) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.30 and traded as low as $4.88. Cadiz shares last traded at $4.94, with a volume of 438,437 shares traded.

Analyst Upgrades and Downgrades

CDZI has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cadiz in a research report on Wednesday, January 21st. Maxim Group assumed coverage on Cadiz in a report on Monday, February 2nd. They set a “buy” rating and a $10.00 price target on the stock. Finally, Wall Street Zen downgraded Cadiz from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.00.

Cadiz Stock Performance

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 company has a market cap of $410.56 million, a PE ratio of -10.08 and a beta of 2.05. The business’s fifty day moving average is $5.35 and its 200-day moving average is $5.30.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC purchased a new position in shares of Cadiz during the 4th quarter worth $719,000. Flax Pond Capital LLC purchased a new stake in shares of Cadiz in the 4th quarter worth $302,000. Alpine Global Management LLC purchased a new stake in shares of Cadiz in the 4th quarter worth $281,000. Virtu Financial LLC bought a new position in Cadiz in the 4th quarter worth $57,000. Finally, Invesco Ltd. raised its holdings in Cadiz by 31.0% in the 4th quarter. Invesco Ltd. now owns 24,673 shares of the company’s stock worth $138,000 after purchasing an additional 5,835 shares during the period. 79.75% of the stock is currently owned by institutional investors.

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.