Cadiz (NASDAQ:CDZI) Stock Breaks Below 200-Day Moving Average – Time to Sell?

Cadiz, Inc. (NASDAQ:CDZI)’s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $4.38 and traded as low as $4.07. Cadiz shares last traded at $4.08, with a volume of 989,179 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CDZI. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadiz in a research report on Tuesday, September 1st. Zacks Research downgraded Cadiz from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $10.00.

Cadiz Trading Down 10.3%

The stock has a market cap of $345.49 million, a PE ratio of -8.16 and a beta of 1.72. The business’s fifty day moving average is $3.88 and its 200 day moving average is $4.38. The company has a quick ratio of 0.96, a current ratio of 1.16 and a debt-to-equity ratio of 24.97.

Cadiz (NASDAQ:CDZI) last issued its earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Cadiz had a negative return on equity of 206.79% and a negative net margin of 311.03%. The company had revenue of $0.98 million for the quarter, compared to analyst estimates of $3.07 million. As a group, analysts predict that Cadiz, Inc. will post -0.55 earnings per share for the current year.

Institutional Trading of Cadiz

Large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in Cadiz by 0.3% in the 1st quarter. Bank of America Corp DE now owns 3,528,294 shares of the company’s stock valued at $17,324,000 after acquiring an additional 9,473 shares during the last quarter. Corient Private Wealth LP acquired a new position in Cadiz during the second quarter worth about $43,000. Strid Group LLC acquired a new position in Cadiz during the third quarter worth about $48,000. Inceptionr LLC purchased a new stake in shares of Cadiz in the first quarter valued at about $94,000. Finally, Royal Bank of Canada lifted its holdings in shares of Cadiz by 797.4% in the first quarter. Royal Bank of Canada now owns 21,600 shares of the company’s stock valued at $106,000 after purchasing an additional 19,193 shares in the last quarter. Institutional investors and hedge funds own 79.75% of the company’s stock.

About Cadiz

Cadiz Inc is a California-based water solutions company focused on developing, managing and supplying sustainable water resources. The company owns land and water rights in the Mojave Desert and works to conserve, store, treat and convey groundwater for use by communities, businesses and agricultural customers.

Its principal initiative is the Cadiz Water Project, which is designed to capture and conserve groundwater in the eastern Mojave Desert and deliver it to participating water agencies in Southern California through regional conveyance infrastructure.