Cadiz (CDZI) Projected to Post Quarterly Earnings on Friday

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

Cadiz Price Performance

Shares of NASDAQ:CDZI opened at $4.82 on Wednesday. The business has a 50 day moving average price of $5.46 and a 200 day moving average price of $5.29. Cadiz has a twelve month low of $2.13 and a twelve month high of $6.96. The company has a market cap of $400.59 million, a price-to-earnings ratio of -9.84 and a beta of 2.05. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 3.14.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Cadiz

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new position in Cadiz in the third quarter valued at about $40,000. BNP Paribas Financial Markets boosted its position in shares of Cadiz by 115.8% during the third quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock worth $52,000 after purchasing an additional 5,935 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of Cadiz in the 3rd quarter valued at $56,000. LPL Financial LLC bought a new position in Cadiz during the fourth quarter worth about $56,000. Finally, Virtu Financial LLC bought a new stake in shares of Cadiz in the fourth quarter worth about $57,000. 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.