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

Cadiz, Inc. (NASDAQ:CDZI)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.28 and traded as low as $4.06. Cadiz shares last traded at $4.19, with a volume of 1,062,508 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on CDZI shares. Wall Street Zen cut Cadiz from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 11th. Maxim Group initiated coverage on Cadiz in a report on Monday, February 2nd. They issued a “buy” rating and a $10.00 target price for the company. Zacks Research lowered Cadiz from a “hold” rating to a “strong sell” rating in a report on Monday, April 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cadiz in a report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $10.00.

Cadiz Stock Up 1.0%

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 market cap of $352.34 million, a P/E ratio of -9.11 and a beta of 1.79. The company has a fifty day moving average of $4.77 and a 200 day moving average of $5.28.

Cadiz (NASDAQ:CDZI) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) 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, research analysts anticipate that Cadiz, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Cadiz

Several large investors have recently modified their holdings of CDZI. AQR Capital Management LLC bought a new stake in shares of Cadiz in the first quarter worth $79,000. Geode Capital Management LLC grew its holdings in shares of Cadiz by 19.8% in the second quarter. Geode Capital Management LLC now owns 1,262,379 shares of the company’s stock worth $3,775,000 after acquiring an additional 208,830 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Cadiz by 12.9% in the second quarter. JPMorgan Chase & Co. now owns 26,889 shares of the company’s stock worth $80,000 after acquiring an additional 3,074 shares during the period. Rhumbline Advisers grew its holdings in shares of Cadiz by 147.0% in the second quarter. Rhumbline Advisers now owns 91,963 shares of the company’s stock worth $275,000 after acquiring an additional 54,725 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Cadiz in the second quarter worth $144,000. Institutional investors own 79.75% of the company’s stock.

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.