Cadiz (NASDAQ:CDZI) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Cadiz (NASDAQ:CDZI) from a hold rating to a strong sell rating in a research report report published on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded 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 note on Wednesday, January 21st. Finally, Maxim Group initiated coverage on Cadiz in a research note on Monday, February 2nd. They issued a “buy” rating and a $10.00 price target for the company. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Cadiz has a consensus rating of “Hold” and a consensus price target of $10.00.

Cadiz Stock Up 3.5%

CDZI opened at $5.06 on Monday. Cadiz has a fifty-two week low of $2.13 and a fifty-two week high of $6.96. 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 company has a market capitalization of $422.11 million, a P/E ratio of -10.54 and a beta of 2.08. The stock has a fifty day moving average of $5.10 and a 200-day moving average of $5.36.

Cadiz (NASDAQ:CDZI) last posted its earnings results on Tuesday, March 31st. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.67). Cadiz had a negative return on equity of 93.48% and a negative net margin of 206.65%.The firm had revenue of $5.08 million for the quarter, compared to analyst estimates of $4.80 million. On average, equities analysts expect that Cadiz will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in Cadiz in the third quarter valued at about $40,000. ProShare Advisors LLC acquired a new position in Cadiz in the fourth quarter valued at about $56,000. LPL Financial LLC acquired a new position in Cadiz in the fourth quarter valued at about $56,000. Virtu Financial LLC bought a new position in Cadiz in the fourth quarter valued at about $57,000. Finally, Neuberger Berman Group LLC bought a new position in Cadiz in the second quarter valued at about $32,000. Institutional investors and hedge funds own 79.75% of the company’s stock.

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.