Cadiz, Inc. $CDZI Shares Sold by American Assets Capital Advisers LLC

American Assets Capital Advisers LLC lowered its holdings in Cadiz, Inc. (NASDAQ:CDZI) by 38.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 601,113 shares of the company’s stock after selling 378,441 shares during the period. Cadiz makes up 3.0% of American Assets Capital Advisers LLC’s holdings, making the stock its 12th biggest holding. American Assets Capital Advisers LLC owned approximately 0.73% of Cadiz worth $2,837,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CDZI. Levin Capital Strategies L.P. grew its stake in shares of Cadiz by 5.7% in the second quarter. Levin Capital Strategies L.P. now owns 3,242,522 shares of the company’s stock worth $9,695,000 after acquiring an additional 176,142 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Cadiz by 50.2% in the second quarter. Bank of America Corp DE now owns 1,517,751 shares of the company’s stock valued at $4,538,000 after acquiring an additional 507,449 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cadiz by 19.8% in the second quarter. Geode Capital Management LLC now owns 1,262,379 shares of the company’s stock valued at $3,775,000 after purchasing an additional 208,830 shares during the period. Elkhorn Partners Limited Partnership grew its stake in Cadiz by 7.2% during the 2nd quarter. Elkhorn Partners Limited Partnership now owns 683,000 shares of the company’s stock worth $2,042,000 after purchasing an additional 46,000 shares in the last quarter. Finally, Permanent Capital Management LP acquired a new position in Cadiz during the 3rd quarter worth $2,344,000. 79.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CDZI shares. Wall Street Zen raised Cadiz from a “sell” rating to a “hold” rating in a research report on Saturday, November 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cadiz in a research note on Wednesday, January 21st. Finally, Maxim Group started coverage on shares of Cadiz in a research report on Monday. 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 given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.00.

Cadiz Price Performance

CDZI stock opened at $5.37 on Tuesday. The business has a 50 day moving average price of $5.85 and a 200 day moving average price of $4.84. 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 cap of $446.30 million, a price-to-earnings ratio of -10.96 and a beta of 2.03. Cadiz, Inc. has a fifty-two week low of $2.13 and a fifty-two week high of $6.96.

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

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.