Cadiz (NASDAQ:CDZI) Posts Quarterly Earnings Results, Misses Expectations By $0.67 EPS

Cadiz (NASDAQ:CDZI) released its earnings results on Tuesday. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.67), FiscalAI reports. Cadiz had a negative return on equity of 93.48% and a negative net margin of 206.65%.The firm had revenue of $5.08 million for the quarter, compared to analyst estimates of $4.80 million.

Cadiz Price Performance

NASDAQ CDZI traded down $0.10 on Thursday, reaching $4.97. The company’s stock had a trading volume of 145,335 shares, compared to its average volume of 766,352. Cadiz has a 52 week low of $2.13 and a 52 week 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 firm has a market cap of $412.64 million, a PE ratio of -10.34 and a beta of 2.05. The business has a 50-day moving average price of $5.25 and a 200 day moving average price of $5.33.

Institutional Investors Weigh In On Cadiz

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Cadiz in the 3rd quarter valued at approximately $40,000. BNP Paribas Financial Markets lifted its position 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 worth $52,000 after buying an additional 5,935 shares during the period. Sherbrooke Park Advisers LLC acquired a new stake in Cadiz in the 3rd quarter valued at $56,000. LPL Financial LLC acquired a new stake in Cadiz in the 4th quarter valued at $56,000. Finally, Virtu Financial LLC bought a new stake in Cadiz in the fourth quarter valued at $57,000. 79.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on CDZI shares. Maxim Group assumed coverage on Cadiz in a research report on Monday, February 2nd. They issued a “buy” rating and a $10.00 price objective for the company. Wall Street Zen cut Cadiz from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cadiz in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.00.

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.