Cadiz (NASDAQ:CDZI) Director Acquires $507,761.70 in Stock

Cadiz, Inc. (NASDAQ:CDZI) Director David Mark O’hara bought 110,865 shares of Cadiz stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $4.58 per share, for a total transaction 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 represents a 1,589.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cadiz Stock Down 1.4%

Shares of NASDAQ:CDZI traded down $0.06 during trading on Thursday, hitting $4.38. The company’s stock had a trading volume of 387,841 shares, compared to its average volume of 786,116. The business has a 50 day moving average price of $4.71 and a two-hundred day moving average price of $5.26. The company has a market capitalization of $368.31 million, a PE ratio of -9.52 and a beta of 1.79. 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, Inc. has a fifty-two week low of $2.75 and a fifty-two week high of $6.96.

Cadiz (NASDAQ:CDZI) last announced 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 company had revenue of $1.63 million during the quarter, compared to analyst estimates of $4.48 million. Cadiz had a negative net margin of 221.43% and a negative return on equity of 129.97%. As a group, research analysts expect that Cadiz, Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CDZI has been the subject of several recent research reports. Zacks Research cut Cadiz from a “hold” rating to a “strong sell” rating in a research note on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cadiz in a research report on Monday, April 20th. Wall Street Zen downgraded Cadiz from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 11th. Finally, Maxim Group assumed coverage on shares of Cadiz in a research note on Monday, February 2nd. They issued a “buy” rating and a $10.00 price target for the company. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cadiz has a consensus rating of “Reduce” and a consensus target price of $10.00.

Institutional Trading of Cadiz

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in Cadiz by 0.3% during the 1st quarter. Bank of America Corp DE now owns 3,528,294 shares of the company’s stock worth $17,324,000 after buying an additional 9,473 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Cadiz by 797.4% in the 1st quarter. Royal Bank of Canada now owns 21,600 shares of the company’s stock valued at $106,000 after acquiring an additional 19,193 shares during the last quarter. Inceptionr LLC purchased a new position in shares of Cadiz in the 1st quarter valued at about $94,000. Levin Capital Strategies L.P. raised its position in shares of Cadiz by 4.1% during the 1st quarter. Levin Capital Strategies L.P. now owns 3,816,169 shares of the company’s stock worth $18,737,000 after acquiring an additional 149,846 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Cadiz by 1,511.6% during the 1st quarter. SG Americas Securities LLC now owns 218,094 shares of the company’s stock worth $1,071,000 after acquiring an additional 204,561 shares in the last quarter. 79.75% of the stock is currently owned by institutional investors and hedge funds.

Cadiz Company 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.