Janney Montgomery Scott LLC boosted its stake in Cadiz, Inc. (NASDAQ:CDZI) by 10.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,151 shares of the company’s stock after buying an additional 10,088 shares during the period. Janney Montgomery Scott LLC’s holdings in Cadiz were worth $1,420,000 as of its most recent filing with the SEC.
Cadiz, Inc. (CDZI) opened at 12.40 on Thursday. Cadiz, Inc. has a 12-month low of $6.70 and a 12-month high of $16.25. The firm’s 50-day moving average is $12.84 and its 200 day moving average is $14.26. The company’s market cap is $275.99 million.
Several research analysts have issued reports on the stock. B. Riley restated a “buy” rating and set a $17.50 price target on shares of Cadiz in a report on Monday, July 24th. BidaskClub lowered shares of Cadiz from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th.
In other Cadiz news, CFO Timothy J. Shaheen sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $13.00, for a total value of $650,000.00. Following the completion of the sale, the chief financial officer now owns 108,500 shares in the company, valued at $1,410,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.56% of the company’s stock.
Cadiz Inc is a land and water resource development company. As of December 31, 2016, the Company had 45,000 acres of land in three areas of eastern San Bernardino County, California. The Company’s primary business is to acquire and develop land with water resources for various uses, including groundwater supply, groundwater storage and agriculture.
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