Short Interest in Cadiz Inc. (NASDAQ:CDZIP) Decreases By 35.8%

Cadiz Inc. (NASDAQ:CDZIP) was the recipient of a large decrease in short interest in May. As of May 29th, there was short interest totaling 3,896 shares, a decrease of 35.8% from the May 14th total of 6,069 shares. Based on an average trading volume of 6,458 shares, the short-interest ratio is currently 0.6 days.

Cadiz Stock Down 1.8%

Cadiz stock traded down $0.42 during mid-day trading on Tuesday, hitting $23.03. The company’s stock had a trading volume of 1,309 shares, compared to its average volume of 7,071. The firm’s 50 day moving average is $20.65 and its 200 day moving average is $19.89. Cadiz has a 52-week low of $16.41 and a 52-week high of $24.78.

Cadiz Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, April 3rd were paid a $0.56 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.24 annualized dividend and a yield of 9.7%. This is an increase from Cadiz’s previous quarterly dividend of $0.55.

About Cadiz

Cadiz, Inc (NASDAQ: CDZIP) is a land and water resource management company focused on developing sustainable water supply solutions in Southern California. The company holds approximately 36,000 acres of desert land in the Mojave Basin, where it has pursued the Cadiz Water Project—a plan to capture and convey groundwater to regional municipal and industrial customers. Cadiz oversees the permitting, design, and construction of conveyance infrastructure, including an engineered pipeline and pumping stations.

In addition to its water development activities, Cadiz operates agricultural ventures on its desert holdings, growing crops such as alfalfa while restoring degraded soils and maintaining native habitat.