Cadiz (NASDAQ:CDZI) Share Price Passes Below 200 Day Moving Average – What’s Next?

Cadiz, Inc. (NASDAQ:CDZI)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.14 and traded as low as $3.78. Cadiz shares last traded at $4.02, with a volume of 689,887 shares changing hands.

Wall Street Analyst Weigh In

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

Cadiz Stock Performance

The company has a market cap of $338.04 million, a PE ratio of -8.74 and a beta of 1.81. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.88 and a quick ratio of 1.76. The business has a 50-day moving average of $4.50 and a 200 day moving average of $5.14.

Cadiz (NASDAQ:CDZI) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The firm had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $4.48 million. Cadiz had a negative net margin of 221.43% and a negative return on equity of 129.97%. Equities research analysts anticipate that Cadiz, Inc. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director David Mark O’hara acquired 110,865 shares of Cadiz stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $4.58 per share, for a total transaction of $507,761.70. Following the completion of the transaction, the director owned 117,841 shares in the company, valued at $539,711.78. The trade was 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 accessible through this hyperlink. Company insiders own 2.31% of the company’s stock.

Institutional Trading of Cadiz

Hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new stake in Cadiz in the third quarter worth about $40,000. ProShare Advisors LLC purchased a new stake in Cadiz in the fourth quarter worth about $56,000. LPL Financial LLC purchased a new stake in Cadiz in the fourth quarter worth about $56,000. Virtu Financial LLC purchased a new stake in Cadiz in the fourth quarter worth about $57,000. Finally, BNP Paribas Financial Markets increased its position in Cadiz by 115.8% in the third quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock worth $52,000 after buying an additional 5,935 shares in the last quarter. Hedge funds and other institutional investors own 79.75% of the company’s stock.

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.