Cadiz (NASDAQ:CDZI) Stock Passes Below 200-Day Moving Average – Should You Sell?

Cadiz, Inc. (NASDAQ:CDZI) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.30 and traded as low as $4.88. Cadiz shares last traded at $4.94, with a volume of 438,437 shares.

Analysts Set New Price Targets

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

Cadiz Trading Down 2.4%

The company’s 50-day moving average is $5.35 and its 200 day moving average is $5.31. 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 $410.56 million, a PE ratio of -10.08 and a beta of 2.05.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Neuberger Berman Group LLC acquired a new stake in Cadiz during the 2nd quarter worth about $32,000. Quarry LP acquired a new position in shares of Cadiz in the 3rd quarter valued at about $40,000. BNP Paribas Financial Markets increased its holdings in shares of Cadiz by 115.8% in 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 during the period. ProShare Advisors LLC purchased a new stake in shares of Cadiz in the fourth quarter worth approximately $56,000. Finally, LPL Financial LLC purchased a new stake in shares of Cadiz in the fourth quarter worth approximately $56,000. 79.75% of the stock is owned by institutional investors and hedge funds.

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.