Cadiz Inc. (CDZI) Reaches New 52-Week High After Insider Buying Activity
Shares of Cadiz Inc. (NASDAQ:CDZI) reached a new 52-week high during mid-day trading on Monday following insider buying activity. The company traded as high as $9.85 and last traded at $9.85, with a volume of 153,087 shares changing hands. The stock had previously closed at $9.30.
Specifically, Director Winston H. Hickox bought 5,000 shares of the stock in a transaction on Thursday, November 17th. The shares were acquired at an average price of $9.13 per share, for a total transaction of $45,650.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Water Asset Management Llc bought 200,000 shares of the stock in a transaction on Wednesday, November 9th. The shares were bought at an average price of $8.08 per share, for a total transaction of $1,616,000.00. The disclosure for this purchase can be found here. 7.56% of the stock is currently owned by corporate insiders.
The stock’s 50-day moving average is $7.55 and its 200-day moving average is $6.90. The company’s market cap is $190.21 million.
Cadiz (NASDAQ:CDZI) last released its earnings results on Wednesday, November 9th. The company reported ($0.28) earnings per share for the quarter. The business earned $120 million during the quarter, compared to analyst estimates of $227 million. On average, equities analysts forecast that Cadiz Inc. will post ($1.21) earnings per share for the current fiscal year.
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Cadiz Inc is a land and water resource development company with approximately 45,000 acres of land in three areas of eastern San Bernardino County, California. The Company’s primary business is to acquire and develop land with water resources for various uses, including groundwater supply, groundwater storage and agriculture.
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