335,000 Shares in Cadiz, Inc. $CDZI Purchased by Potomac Capital Management Inc.

Potomac Capital Management Inc. acquired a new stake in Cadiz, Inc. (NASDAQ:CDZI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 335,000 shares of the company’s stock, valued at approximately $1,879,000. Cadiz makes up about 1.5% of Potomac Capital Management Inc.’s portfolio, making the stock its 19th largest holding. Potomac Capital Management Inc. owned approximately 0.40% of Cadiz at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. LPL Financial LLC acquired a new stake in shares of Cadiz in the fourth quarter valued at $56,000. Los Angeles Capital Management LLC increased its holdings in Cadiz by 92.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 178,251 shares of the company’s stock valued at $941,000 after buying an additional 85,546 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Cadiz by 135.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 357,572 shares of the company’s stock valued at $2,006,000 after buying an additional 205,598 shares during the last quarter. AXQ Capital LP purchased a new position in Cadiz in the fourth quarter valued at $76,000. Finally, Intech Investment Management LLC increased its holdings in Cadiz by 40.6% in the fourth quarter. Intech Investment Management LLC now owns 37,429 shares of the company’s stock valued at $210,000 after buying an additional 10,804 shares during the last quarter. 79.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David Mark O’hara acquired 110,865 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $4.58 per share, with a total value of $507,761.70. Following the completion of the acquisition, the director owned 117,841 shares in the company, valued at $539,711.78. This trade represents a 1,589.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CDZI. Wall Street Zen lowered Cadiz from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. Zacks Research raised Cadiz from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Weiss Ratings lowered Cadiz from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.00.

Cadiz Stock Performance

Shares of CDZI stock opened at $4.02 on Wednesday. The stock’s 50-day moving average is $4.63 and its two-hundred day moving average is $5.21. The firm has a market cap of $338.04 million, a price-to-earnings ratio of -8.74 and a beta of 1.81. Cadiz, Inc. has a 1 year low of $2.75 and a 1 year high of $6.96. 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 issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $4.48 million. Cadiz had a negative return on equity of 129.97% and a negative net margin of 221.43%. Analysts predict that Cadiz, Inc. will post -0.4 earnings per share for the current year.

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.