Cadiz (NASDAQ:CDZI) Shares Pass Above Two Hundred Day Moving Average of $2.83

Cadiz Inc. (NASDAQ:CDZI)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.83 and traded as high as $3.46. Cadiz shares last traded at $3.37, with a volume of 103,743 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Cadiz to a “sell” rating in a research note on Thursday, May 16th.

Cadiz Price Performance

The firm has a 50 day moving average of $3.20 and a two-hundred day moving average of $2.83. The company has a debt-to-equity ratio of 2.12, a quick ratio of 2.54 and a current ratio of 2.86.

Cadiz (NASDAQ:CDZI) last posted its earnings results on Tuesday, May 14th. The company reported ($0.12) earnings per share for the quarter. The business had revenue of $1.12 million for the quarter. Cadiz had a negative return on equity of 62.43% and a negative net margin of 925.72%. As a group, sell-side analysts anticipate that Cadiz Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cadiz

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDZI. Nisa Investment Advisors LLC purchased a new stake in Cadiz in the second quarter valued at approximately $31,000. Russell Investments Group Ltd. lifted its stake in Cadiz by 15,764.9% in the fourth quarter. Russell Investments Group Ltd. now owns 12,216 shares of the company’s stock valued at $34,000 after buying an additional 12,139 shares during the last quarter. Spartan Fund Management Inc. purchased a new stake in Cadiz in the fourth quarter valued at approximately $57,000. BNP Paribas Financial Markets lifted its stake in Cadiz by 212.2% in the first quarter. BNP Paribas Financial Markets now owns 35,264 shares of the company’s stock valued at $102,000 after buying an additional 23,968 shares during the last quarter. Finally, Christopher J. Hasenberg Inc purchased a new stake in Cadiz in the fourth quarter valued at approximately $112,000. Hedge funds and other institutional investors own 79.75% of the company’s stock.

About Cadiz

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.