Cadiz (NASDAQ:CDZI) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Cadiz, Inc. (NASDAQ:CDZI) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.97 and traded as low as $4.76. Cadiz shares last traded at $4.91, with a volume of 453,283 shares changing hands.

Wall Street Analysts Forecast Growth

CDZI has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cadiz in a research note on Wednesday, January 21st. Wall Street Zen downgraded Cadiz from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, Maxim Group assumed coverage on Cadiz in a report on Monday, February 2nd. They issued a “buy” rating and a $10.00 price objective on the stock. Two research 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’s stock. Based on data from MarketBeat.com, Cadiz currently has an average rating of “Hold” and an average target price of $10.00.

Cadiz Trading Up 3.4%

The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 3.14. The stock has a market capitalization of $408.07 million, a PE ratio of -10.02 and a beta of 2.03. The business’s 50-day moving average is $5.71 and its two-hundred day moving average is $4.97.

Cadiz (NASDAQ:CDZI) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Cadiz had a negative return on equity of 93.48% and a negative net margin of 206.65%.The firm had revenue of $4.15 million for the quarter, compared to analysts’ expectations of $3.90 million. On average, analysts anticipate that Cadiz, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cadiz

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new stake in shares of Cadiz in the fourth quarter valued at approximately $511,000. PEAK6 LLC purchased a new stake in Cadiz in the 4th quarter valued at $953,000. Police & Firemen s Retirement System of New Jersey boosted its stake in Cadiz by 71.4% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 17,959 shares of the company’s stock worth $101,000 after purchasing an additional 7,479 shares during the period. State Street Corp grew its position in Cadiz by 2.4% during the 4th quarter. State Street Corp now owns 1,270,020 shares of the company’s stock worth $7,125,000 after purchasing an additional 30,016 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Cadiz by 68.4% during the 4th quarter. Wells Fargo & Company MN now owns 60,140 shares of the company’s stock worth $337,000 after purchasing an additional 24,435 shares during the last quarter. Hedge funds and other institutional investors 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.