Cadiz (NASDAQ:CDZI) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Cadiz, Inc. (NASDAQ:CDZI) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.07 and traded as low as $3.61. Cadiz shares last traded at $3.65, with a volume of 877,347 shares.

Wall Street Analysts Forecast Growth

CDZI has been the topic of several recent research reports. Zacks Research raised shares of Cadiz from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings downgraded shares of Cadiz from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen lowered shares of Cadiz from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 11th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.00.

Cadiz Stock Up 1.7%

The company has a quick ratio of 1.76, a current ratio of 1.88 and a debt-to-equity ratio of 7.32. The company has a 50-day simple moving average of $4.37 and a two-hundred day simple moving average of $5.06. The stock has a market cap of $312.23 million, a P/E ratio of -8.07 and a beta of 1.81.

Cadiz (NASDAQ:CDZI) last issued its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Cadiz had a negative return on equity of 129.97% and a negative net margin of 221.43%.The firm had revenue of $1.63 million during the quarter, compared to the consensus estimate of $4.48 million. On average, equities analysts forecast that Cadiz, Inc. will post -0.4 EPS for the current year.

Insider Transactions at Cadiz

In other news, Director David Mark O’hara acquired 110,865 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $4.58 per share, for a total transaction of $507,761.70. Following the completion of the transaction, the director owned 117,841 shares of the company’s stock, valued at $539,711.78. The trade was a 1,589.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.31% of the stock is currently owned by company insiders.

Institutional Trading of Cadiz

Several large investors have recently modified their holdings of CDZI. JPMorgan Chase & Co. increased its holdings in Cadiz by 12.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 26,889 shares of the company’s stock valued at $80,000 after purchasing an additional 3,074 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Cadiz by 28.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,926 shares of the company’s stock worth $66,000 after buying an additional 4,918 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cadiz by 20.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,072 shares of the company’s stock worth $90,000 after buying an additional 5,012 shares during the period. Invesco Ltd. grew its position in shares of Cadiz by 31.0% in the 4th quarter. Invesco Ltd. now owns 24,673 shares of the company’s stock worth $138,000 after buying an additional 5,835 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position 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 worth $52,000 after buying an additional 5,935 shares during the last quarter. 79.75% of the stock is owned by institutional investors.

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.