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

Cadiz, Inc. (NASDAQ:CDZI)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.07 and traded as low as $3.61. Cadiz shares last traded at $3.65, with a volume of 877,347 shares traded.

Analyst Upgrades and Downgrades

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

Cadiz Stock Down 9.0%

The firm has a market capitalization of $306.93 million, a price-to-earnings ratio of -7.93 and a beta of 1.81. The business has a 50 day simple moving average of $4.39 and a 200-day simple moving average of $5.07. The company has a debt-to-equity ratio of 7.32, a quick ratio of 1.76 and a current ratio of 1.88.

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

Insider Buying and Selling

In other news, Director David Mark O’hara bought 110,865 shares of Cadiz stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $4.58 per share, with a total value of $507,761.70. Following the completion of the purchase, the director directly owned 117,841 shares of the company’s stock, valued at approximately $539,711.78. This trade 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 at this link. 2.31% of the stock is owned by company insiders.

Institutional Trading of Cadiz

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