B. Riley Weighs in on Cadiz’s FY2024 Earnings (NASDAQ:CDZI)

Cadiz Inc. (NASDAQ:CDZI) – Research analysts at B. Riley dropped their FY2024 EPS estimates for Cadiz in a research note issued to investors on Wednesday, November 13th. B. Riley analyst M. Crawford now anticipates that the company will post earnings of ($0.47) per share for the year, down from their prior forecast of ($0.46). The consensus estimate for Cadiz’s current full-year earnings is ($0.47) per share. B. Riley also issued estimates for Cadiz’s FY2026 earnings at ($0.34) EPS.

Separately, StockNews.com upgraded shares of Cadiz to a “sell” rating in a report on Friday.

Cadiz Stock Up 2.5 %

Cadiz stock opened at $3.32 on Monday. Cadiz has a 52 week low of $2.12 and a 52 week high of $3.85. The stock has a market cap of $226.36 million, a price-to-earnings ratio of -6.51 and a beta of 0.85. The company’s 50-day moving average price is $3.15 and its two-hundred day moving average price is $3.14. The company has a current ratio of 1.36, a quick ratio of 1.40 and a debt-to-equity ratio of 3.88.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new position in Cadiz during the second quarter valued at approximately $31,000. HCR Wealth Advisors boosted its position in Cadiz by 347.6% during the second quarter. HCR Wealth Advisors now owns 366,687 shares of the company’s stock worth $1,133,000 after purchasing an additional 284,766 shares during the period. Vanguard Group Inc. raised its holdings in Cadiz by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 2,280,495 shares of the company’s stock worth $6,613,000 after acquiring an additional 113,834 shares during the period. SG Americas Securities LLC acquired a new position in shares of Cadiz during the 3rd quarter worth about $45,000. Finally, Evoke Wealth LLC boosted its position in shares of Cadiz by 70.4% in the second quarter. Evoke Wealth LLC now owns 73,200 shares of the company’s stock valued at $226,000 after acquiring an additional 30,235 shares during the period. 79.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cadiz

In related news, major shareholder International Group Se Heerema bought 2,070,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $3.34 per share, for a total transaction of $6,913,800.00. Following the acquisition, the insider now directly owns 22,783,965 shares of the company’s stock, valued at $76,098,443.10. The trade was a 9.99 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.70% of the company’s stock.

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.