Cadiz (NASDAQ:CDZI) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Cadiz (NASDAQ:CDZI) posted its earnings results on Wednesday. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01), Zacks reports. Cadiz had a negative net margin of 217.49% and a negative return on equity of 97.55%. The company had revenue of $4.15 million during the quarter, compared to analyst estimates of $3.90 million.

Cadiz Stock Performance

Shares of NASDAQ:CDZI traded up $0.23 during trading on Thursday, hitting $4.83. 424,118 shares of the company traded hands, compared to its average volume of 635,862. The company has a quick ratio of 1.55, a current ratio of 1.81 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $396.06 million, a price-to-earnings ratio of -9.38 and a beta of 1.90. Cadiz has a one year low of $2.13 and a one year high of $6.10. The business’s fifty day moving average is $4.75 and its 200-day moving average is $3.68.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CDZI shares. Wall Street Zen raised Cadiz from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cadiz in a research report on Wednesday, October 8th. Finally, Zacks Research raised Cadiz from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Hedge Funds Weigh In On Cadiz

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Cadiz by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,035,901 shares of the company’s stock worth $14,329,000 after buying an additional 135,343 shares during the period. Bank of America Corp DE raised its position in Cadiz by 50.2% during the second quarter. Bank of America Corp DE now owns 1,517,751 shares of the company’s stock valued at $4,538,000 after acquiring an additional 507,449 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cadiz by 19.8% during the second quarter. Geode Capital Management LLC now owns 1,262,379 shares of the company’s stock valued at $3,775,000 after buying an additional 208,830 shares in the last quarter. UBS Group AG raised its stake in shares of Cadiz by 36.6% in the 3rd quarter. UBS Group AG now owns 196,549 shares of the company’s stock valued at $928,000 after acquiring an additional 52,656 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Cadiz by 147.0% in the 2nd quarter. Rhumbline Advisers now owns 91,963 shares of the company’s stock worth $275,000 after acquiring an additional 54,725 shares during the period. 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.