David Mark O’hara Purchases 110,865 Shares of Cadiz (NASDAQ:CDZI) Stock

Cadiz, Inc. (NASDAQ:CDZI) Director David Mark O’hara acquired 110,865 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $4.58 per share, with a total value of $507,761.70. Following the completion of the acquisition, the director directly owned 117,841 shares in the company, valued at approximately $539,711.78. This represents a 1,589.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Cadiz Price Performance

Shares of NASDAQ CDZI opened at $4.88 on Friday. The stock has a market capitalization of $410.34 million, a PE ratio of -10.61 and a beta of 1.79. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.88 and a quick ratio of 1.76. The business has a fifty day moving average price of $4.69 and a two-hundred day moving average price of $5.25. 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 for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Cadiz had a negative net margin of 221.43% and a negative return on equity of 129.97%. The company had revenue of $1.63 million during the quarter, compared to analyst estimates of $4.48 million. As a group, equities analysts predict that Cadiz, Inc. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cadiz

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in Cadiz by 130.0% in the 3rd quarter. Bank of America Corp DE now owns 3,491,080 shares of the company’s stock worth $16,478,000 after purchasing an additional 1,973,329 shares in the last quarter. Levin Capital Strategies L.P. increased its holdings in Cadiz by 12.9% in the 3rd quarter. Levin Capital Strategies L.P. now owns 3,661,547 shares of the company’s stock worth $17,283,000 after purchasing an additional 419,025 shares in the last quarter. Potomac Capital Management Inc. acquired a new position in Cadiz in the 4th quarter worth about $1,879,000. Stonehill Capital Management LLC acquired a new position in Cadiz in the 4th quarter worth about $1,859,000. Finally, Geode Capital Management LLC increased its holdings in Cadiz by 19.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,262,379 shares of the company’s stock worth $3,775,000 after purchasing an additional 208,830 shares in the last quarter. Institutional investors own 79.75% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.