Cadiz (CDZI) Expected to Announce Earnings on Friday

Cadiz (NASDAQ:CDZI) will likely be posting its results before the market opens on Friday, March 27th. Analysts expect Cadiz to post earnings of $0.54 per share and revenue of $4.80 million for the quarter.

Cadiz Trading Down 0.6%

Shares of NASDAQ CDZI opened at $4.81 on Friday. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.96 and a current ratio of 1.26. Cadiz has a 52-week low of $2.13 and a 52-week high of $6.96. The firm has a 50 day moving average price of $5.54 and a two-hundred day moving average price of $5.24. The stock has a market cap of $399.76 million, a P/E ratio of -9.82 and a beta of 2.05.

Hedge Funds Weigh In On Cadiz

A number of hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in Cadiz during the third quarter valued at $40,000. BNP Paribas Financial Markets raised its position in shares of Cadiz by 115.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock worth $52,000 after acquiring an additional 5,935 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of Cadiz in the 3rd quarter valued at about $56,000. LPL Financial LLC acquired a new position in shares of Cadiz in the 4th quarter valued at about $56,000. Finally, Virtu Financial LLC bought a new stake in shares of Cadiz during the 4th quarter valued at about $57,000. Institutional investors own 79.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CDZI. Wall Street Zen lowered shares of Cadiz from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cadiz in a research report on Wednesday, January 21st. Finally, Maxim Group started coverage on Cadiz in a report on Monday, February 2nd. They set a “buy” rating and a $10.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.00.

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.