Zacks: Cadiz Inc (NASDAQ:CDZI) Receives Consensus Rating of “Strong Buy” from Brokerages

Shares of Cadiz Inc (NASDAQ:CDZI) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Zacks has also given Cadiz an industry rank of 219 out of 256 based on the ratings given to related companies.

Several research analysts have issued reports on the stock. BidaskClub lowered shares of Cadiz from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 28th. B. Riley restated a “buy” rating on shares of Cadiz in a research report on Wednesday.

In other Cadiz news, major shareholder Water Asset Management Llc sold 800,000 shares of Cadiz stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $11.00, for a total value of $8,800,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.25% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CDZI. Water Asset Management LLC grew its position in Cadiz by 9.8% during the 2nd quarter. Water Asset Management LLC now owns 3,258,219 shares of the company’s stock worth $36,655,000 after purchasing an additional 291,057 shares in the last quarter. Vanguard Group Inc. grew its position in Cadiz by 16.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,079,351 shares of the company’s stock worth $12,143,000 after purchasing an additional 155,228 shares in the last quarter. Northern Trust Corp grew its position in Cadiz by 0.7% during the 2nd quarter. Northern Trust Corp now owns 293,101 shares of the company’s stock worth $3,297,000 after purchasing an additional 1,973 shares in the last quarter. Marshall Wace LLP grew its position in Cadiz by 31.2% during the 2nd quarter. Marshall Wace LLP now owns 133,556 shares of the company’s stock worth $1,503,000 after purchasing an additional 31,766 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Cadiz during the 2nd quarter worth approximately $771,000. Hedge funds and other institutional investors own 40.86% of the company’s stock.

Shares of NASDAQ CDZI traded up $0.11 during mid-day trading on Friday, reaching $11.99. 109,100 shares of the company traded hands, compared to its average volume of 153,446. Cadiz has a fifty-two week low of $8.53 and a fifty-two week high of $13.15. The stock has a fifty day simple moving average of $11.94 and a 200-day simple moving average of $10.70.

Cadiz (NASDAQ:CDZI) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter. The business had revenue of $0.11 million for the quarter.

About Cadiz

Cadiz Inc operates as a land and water resource development company in the United States. It engages in the water resource, and land and agricultural development activities in San Bernardino County properties. The company owns approximately 35,000 acres of land in the Cadiz and Fenner valleys of eastern San Bernardino County; and approximately 11,000 acres of land in the eastern Mojave Desert portion of San Bernardino County.

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