BidaskClub downgraded shares of Cadiz (NASDAQ:CDZI) from a sell rating to a strong sell rating in a research note released on Saturday morning.

Shares of NASDAQ CDZI opened at $11.40 on Friday. The company has a debt-to-equity ratio of -1.94, a current ratio of 6.54 and a quick ratio of 6.54. Cadiz has a twelve month low of $8.85 and a twelve month high of $14.75.

A number of hedge funds and other institutional investors have recently made changes to their positions in CDZI. B. Riley Financial Inc. acquired a new position in Cadiz during the first quarter worth approximately $135,000. MetLife Investment Advisors LLC acquired a new position in Cadiz during the fourth quarter worth approximately $150,000. Quantitative Systematic Strategies LLC acquired a new position in Cadiz during the second quarter worth approximately $295,000. Janney Montgomery Scott LLC increased its position in Cadiz by 14.3% during the second quarter. Janney Montgomery Scott LLC now owns 41,351 shares of the company’s stock worth $542,000 after buying an additional 5,170 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Cadiz by 16.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 48,956 shares of the company’s stock worth $661,000 after buying an additional 6,900 shares during the last quarter. 48.09% of the stock is currently owned by hedge funds and other institutional investors.

Cadiz Company Profile

Cadiz Inc operates as a land and water resource development company in the United States. It engages in the water resource, and land and agricultural development activities in San Bernardino County properties. The company owns approximately 34,500 acres of land in the Cadiz and Fenner valleys of eastern San Bernardino County; and approximately 11,000 acres of land in the eastern Mojave Desert portion of San Bernardino County.

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