Cadiz (NASDAQ:CDZI) Stock Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Cadiz, Inc. (NASDAQ:CDZI) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.68 and traded as low as $2.91. Cadiz shares last traded at $3.09, with a volume of 494,006 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CDZI. Wall Street Zen lowered Cadiz from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. Zacks Research raised Cadiz from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Weiss Ratings cut shares of Cadiz from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Cadiz Stock Performance

The firm has a market cap of $273.29 million, a price-to-earnings ratio of -7.07 and a beta of 1.86. The company has a current ratio of 1.88, a quick ratio of 1.76 and a debt-to-equity ratio of 7.32. The stock’s 50 day moving average is $3.87 and its 200 day moving average is $4.66.

Cadiz (NASDAQ:CDZI) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.48 million. Analysts anticipate that Cadiz, Inc. will post -0.41 earnings per share for the current year.

Insider Activity at Cadiz

In other Cadiz news, Director David Mark O’hara purchased 110,865 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $4.58 per share, with a total value of $507,761.70. Following the completion of the transaction, the director owned 117,841 shares in the company, valued at $539,711.78. The trade was a 1,589.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CDZI. Quarry LP bought a new stake in shares of Cadiz in the third quarter valued at approximately $40,000. ProShare Advisors LLC acquired a new position in Cadiz in the 4th quarter valued at $56,000. LPL Financial LLC bought a new stake in shares of Cadiz during the 4th quarter valued at $56,000. Virtu Financial LLC bought a new position in shares of Cadiz in the fourth quarter worth $57,000. Finally, BNP Paribas Financial Markets lifted its position in Cadiz by 115.8% during the third quarter. BNP Paribas Financial Markets now owns 11,062 shares of the company’s stock worth $52,000 after purchasing an additional 5,935 shares during the period. 79.75% of the stock is owned by institutional investors.

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.