SG Americas Securities LLC Has $1.07 Million Holdings in Cadiz, Inc. $CDZI

SG Americas Securities LLC increased its holdings in Cadiz, Inc. (NASDAQ:CDZI) by 1,511.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 218,094 shares of the company’s stock after purchasing an additional 204,561 shares during the quarter. SG Americas Securities LLC owned approximately 0.26% of Cadiz worth $1,071,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDZI. Matauro LLC bought a new position in shares of Cadiz during the fourth quarter worth about $603,000. Potomac Capital Management Inc. bought a new stake in Cadiz in the fourth quarter valued at approximately $1,879,000. Financial Engines Advisors L.L.C. bought a new stake in Cadiz in the third quarter valued at approximately $188,000. XTX Topco Ltd acquired a new stake in Cadiz during the 2nd quarter valued at approximately $144,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Cadiz by 20.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,072 shares of the company’s stock valued at $90,000 after purchasing an additional 5,012 shares during the period. 79.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadiz

In related news, Director David Mark O’hara bought 110,865 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of $4.58 per share, for a total transaction of $507,761.70. Following the transaction, the director directly owned 117,841 shares of the company’s stock, valued at approximately $539,711.78. The trade was a 1,589.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CDZI has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Cadiz from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings cut shares of Cadiz from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. Finally, Wall Street Zen downgraded shares of Cadiz from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 11th. One 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.00.

Cadiz Price Performance

Shares of Cadiz stock opened at $4.19 on Friday. Cadiz, Inc. has a one year low of $2.89 and a one year high of $6.96. 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 stock’s 50-day moving average is $4.29 and its 200 day moving average is $5.01. The firm has a market cap of $352.34 million, a price-to-earnings ratio of -9.11 and a beta of 1.83.

Cadiz (NASDAQ:CDZI) last issued its 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). Cadiz had a negative return on equity of 129.97% and a negative net margin of 221.43%.The business had revenue of $1.63 million during the quarter, compared to the consensus estimate of $4.48 million. Equities research analysts anticipate that Cadiz, Inc. will post -0.4 EPS for the current year.

Cadiz 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.