Cadiz (NASDAQ:CDZI) Shares Pass Below 200-Day Moving Average of $2.96

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 $2.96 and traded as low as $2.52. Cadiz shares last traded at $2.60, with a volume of 220,484 shares traded.

Cadiz Stock Up 2.8 %

The stock’s 50-day moving average price is $2.73 and its two-hundred day moving average price is $2.96. The stock has a market capitalization of $173.45 million, a PE ratio of -4.41 and a beta of 0.71. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.44 and a current ratio of 2.80.

Hedge Funds Weigh In On Cadiz

A number of hedge funds have recently bought and sold shares of CDZI. BlackRock Inc. boosted its stake in Cadiz by 237.5% in the 2nd quarter. BlackRock Inc. now owns 2,642,435 shares of the company’s stock worth $10,728,000 after purchasing an additional 1,859,448 shares in the last quarter. B. Riley Asset Management LLC bought a new position in Cadiz in the 1st quarter worth about $7,066,000. Legal & General Group Plc boosted its stake in Cadiz by 23,359.2% in the 3rd quarter. Legal & General Group Plc now owns 1,164,517 shares of the company’s stock worth $3,855,000 after purchasing an additional 1,159,553 shares in the last quarter. Boothbay Fund Management LLC lifted its stake in Cadiz by 197.3% during the 2nd quarter. Boothbay Fund Management LLC now owns 1,713,996 shares of the company’s stock valued at $6,959,000 after acquiring an additional 1,137,475 shares during the period. Finally, B. Riley Financial Inc. lifted its stake in Cadiz by 268.8% during the 3rd quarter. B. Riley Financial Inc. now owns 1,345,824 shares of the company’s stock valued at $4,455,000 after acquiring an additional 980,898 shares during the period. Institutional investors own 79.75% 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 Treatment Business segments. It offers clean water solutions, such as water supply, including for agriculture and off-property uses; and water storage, conveyance, and treatment solutions.