Cadiz (NASDAQ:CDZIP) Stock Price Up 2.2% – Should You Buy?

Cadiz Inc. (NASDAQ:CDZIP) was up 2.2% during mid-day trading on Friday . The company traded as high as $22.49 and last traded at $22.32. Approximately 12,207 shares were traded during trading, an increase of 73% from the average daily volume of 7,038 shares. The stock had previously closed at $21.84.

Cadiz Stock Performance

The company’s fifty day moving average is $22.07 and its 200-day moving average is $20.39.

Cadiz Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 9.9%. The ex-dividend date of this dividend was Thursday, July 2nd.

Cadiz Company Profile

Cadiz, Inc (NASDAQ: CDZIP) is a land and water resource management company focused on developing sustainable water supply solutions in Southern California. The company holds approximately 36,000 acres of desert land in the Mojave Basin, where it has pursued the Cadiz Water Project—a plan to capture and convey groundwater to regional municipal and industrial customers. Cadiz oversees the permitting, design, and construction of conveyance infrastructure, including an engineered pipeline and pumping stations.

In addition to its water development activities, Cadiz operates agricultural ventures on its desert holdings, growing crops such as alfalfa while restoring degraded soils and maintaining native habitat.