Cadiz (NASDAQ:CDZI) Lifted to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Cadiz (NASDAQ:CDZI) from a buy rating to a strong-buy rating in a report released on Friday, BidAskClub reports.

Separately, B. Riley reissued a buy rating on shares of Cadiz in a research report on Wednesday, September 11th.

CDZI opened at $12.73 on Friday. Cadiz has a one year low of $8.53 and a one year high of $13.15. The business’s 50 day moving average price is $12.20 and its 200 day moving average price is $10.79.

Cadiz (NASDAQ:CDZI) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) EPS for the quarter. The company had revenue of $0.11 million during the quarter. As a group, analysts anticipate that Cadiz will post -0.97 EPS for the current year.

In other Cadiz news, major shareholder Water Asset Management Llc sold 800,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $11.00, for a total value of $8,800,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.25% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Equitec Specialists LLC purchased a new stake in shares of Cadiz during the second quarter worth $28,000. BNP Paribas Arbitrage SA increased its holdings in Cadiz by 477.4% in the first quarter. BNP Paribas Arbitrage SA now owns 4,717 shares of the company’s stock valued at $46,000 after buying an additional 3,900 shares during the last quarter. Susquehanna International Group LLP purchased a new position in Cadiz in the second quarter valued at $151,000. Parametric Portfolio Associates LLC increased its holdings in Cadiz by 59.4% in the second quarter. Parametric Portfolio Associates LLC now owns 19,007 shares of the company’s stock valued at $214,000 after buying an additional 7,084 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in Cadiz by 59.2% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,900 shares of the company’s stock valued at $224,000 after buying an additional 7,400 shares during the last quarter. 40.80% of the stock is currently owned by institutional investors and hedge funds.

Cadiz Company Profile

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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