Cadiz (NASDAQ:CDZI) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of Cadiz (NASDAQ:CDZI) to a sell rating in a research note issued to investors on Friday morning.

Cadiz Stock Up 2.5 %

NASDAQ:CDZI traded up $0.08 during trading hours on Friday, reaching $3.32. The company’s stock had a trading volume of 631,242 shares, compared to its average volume of 208,912. The stock has a 50 day moving average price of $3.15 and a two-hundred day moving average price of $3.12. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.40 and a current ratio of 1.89. The company has a market capitalization of $226.36 million, a P/E ratio of -6.51 and a beta of 0.85. Cadiz has a 12 month low of $2.12 and a 12 month high of $3.85.

Cadiz (NASDAQ:CDZI) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.05). Cadiz had a negative return on equity of 84.32% and a negative net margin of 528.15%. The company had revenue of $0.51 million during the quarter, compared to the consensus estimate of $4.00 million. Equities analysts predict that Cadiz will post -0.46 EPS for the current fiscal year.

Insider Activity at Cadiz

In other Cadiz news, major shareholder International Group Se Heerema purchased 2,070,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was bought at an average cost of $3.34 per share, for a total transaction of $6,913,800.00. Following the completion of the purchase, the insider now owns 22,783,965 shares in the company, valued at $76,098,443.10. This represents a 9.99 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Cadiz

A number of institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC purchased a new position in shares of Cadiz in the second quarter worth $31,000. SG Americas Securities LLC purchased a new position in shares of Cadiz in the third quarter worth about $45,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Cadiz in the 3rd quarter valued at $58,000. Joel Isaacson & Co. LLC increased its stake in shares of Cadiz by 70.8% in the third quarter. Joel Isaacson & Co. LLC now owns 20,500 shares of the company’s stock worth $62,000 after acquiring an additional 8,500 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Cadiz by 27.0% during the third quarter. BNP Paribas Financial Markets now owns 20,386 shares of the company’s stock worth $62,000 after purchasing an additional 4,329 shares during the last quarter. 79.75% of the stock is currently owned by institutional investors and hedge funds.

Cadiz Company Profile

Cadiz Inc, together with its subsidiaries, provides water solutions in the United States. The company operates through Land and Water Resources; and Water Filtration Technology segments. It offers water supply, water storage, water conveyance, and water filtration services. In addition, the company is involved in the cultivation of grain crops and alfalfa, as well as provides water filtration solutions for impaired or contaminated groundwater sources.