SG Americas Securities LLC Purchases 204,561 Shares of Cadiz, Inc. $CDZI

SG Americas Securities LLC increased its position in shares of Cadiz, Inc. (NASDAQ:CDZI) by 1,511.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 218,094 shares of the company’s stock after buying an additional 204,561 shares during the quarter. SG Americas Securities LLC’s holdings in Cadiz were worth $1,071,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quarry LP acquired a new stake in Cadiz in the third quarter valued at approximately $40,000. ProShare Advisors LLC bought a new stake in shares of Cadiz during the fourth quarter valued at approximately $56,000. LPL Financial LLC acquired a new position in shares of Cadiz during the fourth quarter worth approximately $56,000. Virtu Financial LLC acquired a new position in shares of Cadiz during the fourth quarter worth approximately $57,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Cadiz by 115.8% in the 3rd 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. Institutional investors own 79.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CDZI. Weiss Ratings downgraded shares of Cadiz from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. Wall Street Zen downgraded shares of Cadiz from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. Finally, Zacks Research raised shares of Cadiz from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. One analyst has 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, Cadiz currently has an average rating of “Hold” and a consensus target price of $10.00.

Cadiz Stock Performance

Shares of CDZI opened at $4.19 on Friday. The firm has a market capitalization of $352.34 million, a P/E ratio of -9.11 and a beta of 1.83. Cadiz, Inc. has a 52 week low of $2.89 and a 52 week high of $6.96. The stock has a 50 day moving average price of $4.29 and a two-hundred day moving average price of $5.01. The company has a debt-to-equity ratio of 7.32, a quick ratio of 1.76 and a current ratio of 1.88.

Cadiz (NASDAQ:CDZI) last posted its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The company had revenue of $1.63 million during the quarter, compared to the consensus estimate of $4.48 million. Cadiz had a negative net margin of 221.43% and a negative return on equity of 129.97%. Equities analysts forecast that Cadiz, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David Mark O’hara purchased 110,865 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average cost of $4.58 per share, with a total value of $507,761.70. Following the transaction, the director owned 117,841 shares of the company’s stock, valued at $539,711.78. This represents a 1,589.23% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.31% of the company’s stock.

Cadiz 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.