BidaskClub Downgrades Cadiz (CDZI) to Hold
Cadiz (NASDAQ:CDZI) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
Separately, B. Riley set a $18.00 target price on shares of Cadiz and gave the stock a “buy” rating in a research note on Monday, October 16th.
Cadiz (NASDAQ CDZI) opened at $13.55 on Tuesday. Cadiz has a 1-year low of $9.65 and a 1-year high of $16.25. The company has a debt-to-equity ratio of -1.76, a current ratio of 1.84 and a quick ratio of 1.84.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Wolverine Trading LLC raised its stake in shares of Cadiz by 192.6% in the third quarter. Wolverine Trading LLC now owns 10,614 shares of the company’s stock worth $135,000 after acquiring an additional 22,079 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Cadiz in the second quarter worth about $142,000. Nationwide Fund Advisors bought a new position in shares of Cadiz in the second quarter worth about $157,000. Ironsides Asset Advisors LLC bought a new position in shares of Cadiz in the second quarter worth about $171,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Cadiz by 14,936.8% in the second quarter. The Manufacturers Life Insurance Company now owns 18,796 shares of the company’s stock worth $254,000 after acquiring an additional 18,671 shares during the last quarter. 49.09% of the stock is owned by institutional investors.
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Cadiz Company Profile
Cadiz Inc is a land and water resource development company. As of December 31, 2016, the Company had 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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