Cadiz (CDZI) Expected to Announce Earnings on Friday

Cadiz (NASDAQ:CDZI) is anticipated to post its results before the market opens on Friday, March 27th. Analysts expect Cadiz to post earnings of $0.54 per share and revenue of $4.80 million for the quarter.

Cadiz Stock Performance

Shares of CDZI stock opened at $5.09 on Thursday. The company has a market capitalization of $423.03 million, a price-to-earnings ratio of -10.39 and a beta of 2.05. Cadiz has a 1-year low of $2.13 and a 1-year high of $6.96. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 3.14. The stock’s fifty day simple moving average is $5.42 and its 200-day simple moving average is $5.29.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CDZI shares. Maxim Group began coverage on Cadiz in a research note on Monday, February 2nd. They set a “buy” rating and a $10.00 target price on the stock. Wall Street Zen cut shares of Cadiz from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cadiz in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.00.

Hedge Funds Weigh In On Cadiz

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDZI. Quarry LP bought a new stake in Cadiz in the third quarter worth approximately $40,000. BNP Paribas Financial Markets raised its holdings in shares of Cadiz by 115.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock valued at $52,000 after purchasing an additional 5,935 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in shares of Cadiz in the 3rd quarter valued at $56,000. LPL Financial LLC acquired a new stake in shares of Cadiz in the 4th quarter valued at $56,000. Finally, Virtu Financial LLC bought a new stake in Cadiz in the fourth quarter worth $57,000. Institutional investors own 79.75% of the company’s stock.

About Cadiz

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.