Cadiz (NASDAQ:CDZI) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Shares of Cadiz, Inc. (NASDAQ:CDZI) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.31 and traded as low as $4.17. Cadiz shares last traded at $4.31, with a volume of 1,205,969 shares traded.

Wall Street Analyst Weigh In

CDZI has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Cadiz in a research report on Tuesday, September 1st. Zacks Research raised Cadiz from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.00.

Cadiz Stock Performance

The company has a market cap of $330.25 million, a P/E ratio of -7.80 and a beta of 1.90. The company’s 50-day moving average is $3.64 and its two-hundred day moving average is $4.29. The company has a quick ratio of 0.96, a current ratio of 1.16 and a debt-to-equity ratio of 24.97.

Cadiz (NASDAQ:CDZI) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Cadiz had a negative return on equity of 206.79% and a negative net margin of 311.03%.The company had revenue of $0.98 million during the quarter, compared to the consensus estimate of $3.07 million. Equities analysts predict that Cadiz, Inc. will post -0.43 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in Cadiz by 1,511.6% during the first quarter. SG Americas Securities LLC now owns 218,094 shares of the company’s stock worth $1,071,000 after purchasing an additional 204,561 shares during the period. Potomac Capital Management Inc. purchased a new position in shares of Cadiz in the fourth quarter worth about $1,879,000. Ancora Advisors LLC bought a new stake in shares of Cadiz in the second quarter valued at approximately $195,000. Bank of New York Mellon Corp bought a new stake in shares of Cadiz in the second quarter valued at approximately $794,000. Finally, Bank of America Corp DE lifted its stake in shares of Cadiz by 0.3% during the 1st quarter. Bank of America Corp DE now owns 3,528,294 shares of the company’s stock valued at $17,324,000 after buying an additional 9,473 shares in 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.