Cadiz (NASDAQ:CDZI) Downgraded to Strong Sell Rating by Zacks Research

Cadiz (NASDAQ:CDZI) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts have also recently commented on CDZI. Wall Street Zen cut shares of Cadiz from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Maxim Group initiated 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cadiz in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Cadiz currently has a consensus rating of “Hold” and an average target price of $10.00.

Cadiz Trading Down 4.3%

Shares of Cadiz stock opened at $4.89 on Monday. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.26 and a quick ratio of 0.96. The firm has a fifty day moving average price of $5.12 and a 200 day moving average price of $5.37. Cadiz has a 1 year low of $2.13 and a 1 year high of $6.96. The stock has a market cap of $407.94 million, a PE ratio of -10.19 and a beta of 2.08.

Cadiz (NASDAQ:CDZI) last issued its earnings results on Tuesday, March 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $5.08 million for the quarter, compared to analysts’ expectations of $4.80 million. Equities research analysts predict that Cadiz will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Cadiz

Large investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Cadiz in the 3rd quarter worth approximately $40,000. ProShare Advisors LLC acquired a new position in shares of Cadiz in the 4th quarter worth approximately $56,000. LPL Financial LLC acquired a new position in shares of Cadiz in the 4th quarter worth approximately $56,000. Virtu Financial LLC acquired a new position in shares of Cadiz in the 4th quarter worth approximately $57,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of Cadiz in the 2nd quarter worth approximately $32,000. 79.75% of the stock is currently owned by institutional investors and hedge funds.

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.