Key Points
- Director David Mark O'hara bought 110,865 Cadiz shares at an average price of $4.58, a transaction worth about $507,762. After the purchase, he directly owned 117,841 shares.
- Cadiz reported a first-quarter EPS of -$0.12, missing analyst expectations, and revenue of $1.63 million versus estimates of $4.48 million. The company also posted weak profitability metrics, including a negative net margin and return on equity.
- Analyst sentiment remains cautious, with Cadiz carrying a consensus rating of “Reduce” and an average price target of $10.00. Recent rating changes included downgrades from Zacks Research and Wall Street Zen, though Maxim Group maintained a Buy rating with a $10 target.
Cadiz, Inc. (NASDAQ:CDZI - Get Free Report) Director David Mark O'hara bought 110,865 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $4.58 per share, for a total transaction of $507,761.70. Following the completion of the acquisition, the director directly owned 117,841 shares in the company, valued at approximately $539,711.78. This trade represents a 1,589.23% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.
Cadiz Stock Performance
Shares of CDZI stock opened at $4.38 on Friday. The company has a debt-to-equity ratio of 7.32, a quick ratio of 1.76 and a current ratio of 1.88. The company has a market capitalization of $368.31 million, a P/E ratio of -9.52 and a beta of 1.79. The company's 50 day moving average price is $4.69 and its two-hundred day moving average price is $5.25. Cadiz, Inc. has a 52 week low of $2.75 and a 52 week high of $6.96.
Cadiz (NASDAQ:CDZI - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $1.63 million for the quarter, compared to analyst estimates of $4.48 million. Cadiz had a negative return on equity of 129.97% and a negative net margin of 221.43%. On average, analysts expect that Cadiz, Inc. will post -0.4 earnings per share for the current fiscal year.
Analysts Set New Price Targets
CDZI has been the topic of a number of recent research reports. Maxim Group initiated coverage on shares of Cadiz in a report on Monday, February 2nd. They issued a "buy" rating and a $10.00 price objective on the stock. Zacks Research downgraded shares of Cadiz from a "hold" rating to a "strong sell" rating in a report on Monday, April 6th. Wall Street Zen downgraded shares of Cadiz from a "sell" rating to a "strong sell" rating in a report on Saturday, April 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cadiz in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Cadiz currently has a consensus rating of "Reduce" and an average price target of $10.00.
Read Our Latest Research Report on CDZI
Institutional Trading of Cadiz
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Cadiz in the third quarter valued at approximately $40,000. ProShare Advisors LLC acquired a new stake in shares of Cadiz in the fourth quarter valued at approximately $56,000. LPL Financial LLC acquired a new position in Cadiz during the fourth quarter worth $56,000. Virtu Financial LLC acquired a new position in Cadiz during the fourth quarter worth $57,000. Finally, BNP Paribas Financial Markets increased its holdings 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 buying an additional 5,935 shares during the last quarter. 79.75% of the stock is currently owned by institutional investors and hedge funds.
About Cadiz
(
Get Free Report)
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.
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