Cadiz (NASDAQ:CDZI) Stock Passes Below Two Hundred 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 $5.32 and traded as low as $4.56. Cadiz shares last traded at $4.69, with a volume of 852,572 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wall Street Zen lowered Cadiz from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cadiz in a report on Monday, April 20th. Zacks Research cut shares of Cadiz from a “hold” rating to a “strong sell” rating in a research note on Monday, April 6th. Finally, Maxim Group initiated coverage on shares of Cadiz in a research report on Monday, February 2nd. They set a “buy” rating and a $10.00 price target for the company. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cadiz presently has an average rating of “Reduce” and an average target price of $10.00.

Cadiz Trading Up 1.5%

The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 4.33. The firm has a market capitalization of $392.55 million, a P/E ratio of -9.77 and a beta of 1.79. The firm’s 50-day simple moving average is $4.90 and its 200-day simple moving average is $5.32.

Cadiz (NASDAQ:CDZI) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.67). The company had revenue of $5.08 million for the quarter, compared to the consensus estimate of $4.80 million. Cadiz had a negative return on equity of 104.61% and a negative net margin of 209.35%. Analysts anticipate that Cadiz, Inc. will post -0.4 EPS for the current year.

Institutional Trading of Cadiz

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new stake in Cadiz during the 1st quarter valued at $79,000. Geode Capital Management LLC raised its holdings in Cadiz by 19.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,262,379 shares of the company’s stock worth $3,775,000 after purchasing an additional 208,830 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Cadiz by 12.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 26,889 shares of the company’s stock worth $80,000 after purchasing an additional 3,074 shares during the period. Rhumbline Advisers increased its position in shares of Cadiz by 147.0% during the second quarter. Rhumbline Advisers now owns 91,963 shares of the company’s stock valued at $275,000 after buying an additional 54,725 shares during the period. Finally, XTX Topco Ltd bought a new position in Cadiz in the second quarter worth about $144,000. 79.75% of the stock is owned by institutional investors.

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.