Cadiz (NASDAQ:CDZI) Share Price Passes Below 200 Day Moving Average – Should You Sell?

Cadiz, Inc. (NASDAQ:CDZI)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.25 and traded as low as $5.05. Cadiz shares last traded at $5.09, with a volume of 276,427 shares trading hands.

Wall Street Analysts Forecast Growth

CDZI has been the subject of a number of recent analyst reports. Maxim Group assumed coverage on Cadiz in a report on Monday, February 2nd. They set a “buy” rating and a $10.00 price target for the company. Wall Street Zen downgraded Cadiz from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cadiz in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cadiz presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Cadiz Price Performance

The stock’s 50-day moving average is $5.58 and its 200 day moving average is $5.25. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.96 and a current ratio of 1.26. The stock has a market capitalization of $423.03 million, a PE ratio of -10.39 and a beta of 2.05.

Hedge Funds Weigh In On Cadiz

A number of large investors have recently bought and sold shares of the company. Flax Pond Capital LLC acquired a new stake in shares of Cadiz in the 4th quarter valued at approximately $302,000. Alpine Global Management LLC acquired a new position in Cadiz during the fourth quarter worth $281,000. Virtu Financial LLC acquired a new position in Cadiz during the fourth quarter worth $57,000. Invesco Ltd. raised its position in Cadiz by 31.0% in the fourth quarter. Invesco Ltd. now owns 24,673 shares of the company’s stock worth $138,000 after acquiring an additional 5,835 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Cadiz in the fourth quarter valued at $300,000. Hedge funds and other institutional investors own 79.75% of the company’s stock.

About Cadiz

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.