B. Riley reaffirmed their buy rating on shares of Cadiz (NASDAQ:CDZI) in a research note published on Wednesday, Zacks.com reports. B. Riley also issued estimates for Cadiz’s Q3 2019 earnings at ($0.20) EPS, Q4 2019 earnings at ($0.20) EPS, FY2019 earnings at ($0.97) EPS, Q1 2020 earnings at ($0.19) EPS, Q2 2020 earnings at ($0.13) EPS, Q3 2020 earnings at ($0.03) EPS, Q4 2020 earnings at ($0.01) EPS, FY2020 earnings at ($0.35) EPS, FY2021 earnings at $0.15 EPS and FY2022 earnings at $1.62 EPS.
Separately, BidaskClub cut shares of Cadiz from a strong-buy rating to a buy rating in a research report on Wednesday, August 28th.
CDZI opened at $11.99 on Wednesday. Cadiz has a 52-week low of $8.53 and a 52-week high of $13.15. The company has a 50 day moving average of $11.97 and a two-hundred day moving average of $10.71.
Cadiz (NASDAQ:CDZI) last posted its earnings results on Thursday, August 8th. The company reported ($0.28) EPS for the quarter. The firm had revenue of $0.11 million for the quarter. On average, research analysts predict that Cadiz will post -0.97 earnings per share for the current fiscal year.
In other news, major shareholder Water Asset Management Llc sold 800,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $11.00, for a total transaction of $8,800,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.25% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of CDZI. Water Asset Management LLC raised its holdings in Cadiz by 9.8% in the second quarter. Water Asset Management LLC now owns 3,258,219 shares of the company’s stock valued at $36,655,000 after acquiring an additional 291,057 shares in the last quarter. Vanguard Group Inc. raised its holdings in Cadiz by 16.8% in the second quarter. Vanguard Group Inc. now owns 1,079,351 shares of the company’s stock valued at $12,143,000 after acquiring an additional 155,228 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Cadiz in the second quarter valued at $771,000. Bank of America Corp DE raised its holdings in Cadiz by 344.2% in the fourth quarter. Bank of America Corp DE now owns 54,535 shares of the company’s stock valued at $562,000 after acquiring an additional 42,258 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Cadiz by 31.2% in the second quarter. Marshall Wace LLP now owns 133,556 shares of the company’s stock valued at $1,503,000 after acquiring an additional 31,766 shares in the last quarter. 40.86% of the stock is currently owned by hedge funds and other institutional investors.
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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