Cadiz (NASDAQ:CDZI) Coverage Initiated by Analysts at Maxim Group

Maxim Group started coverage on shares of Cadiz (NASDAQ:CDZI) in a research report released on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $10.00 target price on the stock.

Other analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cadiz in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Cadiz from a “sell” rating to a “hold” rating in a research report on Saturday, November 29th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cadiz presently has an average rating of “Hold” and an average price target of $10.00.

Cadiz Stock Down 4.8%

NASDAQ CDZI opened at $5.37 on Monday. Cadiz has a 1 year low of $2.13 and a 1 year high of $6.96. The stock has a market capitalization of $446.30 million, a PE ratio of -10.96 and a beta of 2.03. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.26 and a quick ratio of 0.96. The business’s 50-day moving average is $5.85 and its 200 day moving average is $4.84.

Cadiz (NASDAQ:CDZI) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $4.15 million for the quarter, compared to the consensus estimate of $3.90 million. Cadiz had a negative net margin of 206.65% and a negative return on equity of 93.48%. Sell-side analysts forecast that Cadiz will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Levin Capital Strategies L.P. boosted its stake in Cadiz by 12.9% during the third quarter. Levin Capital Strategies L.P. now owns 3,661,547 shares of the company’s stock worth $17,283,000 after acquiring an additional 419,025 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Cadiz by 130.0% in the 3rd quarter. Bank of America Corp DE now owns 3,491,080 shares of the company’s stock worth $16,478,000 after purchasing an additional 1,973,329 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Cadiz by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,035,901 shares of the company’s stock worth $14,329,000 after purchasing an additional 135,343 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of 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 buying an additional 208,830 shares during the last quarter. Finally, Elkhorn Partners Limited Partnership increased its position in Cadiz by 7.2% during the 2nd quarter. Elkhorn Partners Limited Partnership now owns 683,000 shares of the company’s stock valued at $2,042,000 after buying an additional 46,000 shares in the last quarter. 79.75% of the stock is currently 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.