Cadiz (NASDAQ:CDZI) Now Covered by Analysts at Roth Capital

Investment analysts at Roth Capital started coverage on shares of Cadiz (NASDAQ:CDZI) in a note issued to investors on Thursday. The firm set a “buy” rating and a $10.00 price target on the stock. Roth Capital’s target price would indicate a potential upside of 303.23% from the stock’s previous close.

Separately, StockNews.com upgraded Cadiz to a “sell” rating in a research note on Wednesday, March 5th.

Cadiz Trading Down 5.3 %

Shares of CDZI opened at $2.48 on Thursday. The firm has a market cap of $202.83 million, a P/E ratio of -4.86 and a beta of 1.54. Cadiz has a fifty-two week low of $2.13 and a fifty-two week high of $5.68. The company has a debt-to-equity ratio of 3.88, a quick ratio of 0.87 and a current ratio of 1.36. The business has a 50-day moving average of $3.63 and a 200 day moving average of $3.88.

Cadiz (NASDAQ:CDZI) last released its quarterly earnings data on Friday, March 28th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). Cadiz had a negative return on equity of 93.78% and a negative net margin of 528.15%. The business had revenue of $4.75 million during the quarter, compared to the consensus estimate of $8.44 million. As a group, research analysts forecast that Cadiz will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Cadiz

A number of institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC bought a new position in shares of Cadiz during the 4th quarter valued at about $57,000. Ethic Inc. purchased a new stake in shares of Cadiz in the 4th quarter valued at $57,000. Walleye Capital LLC purchased a new stake in shares of Cadiz in the 4th quarter valued at $60,000. BNP Paribas Financial Markets grew its holdings in shares of Cadiz by 27.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,386 shares of the company’s stock valued at $62,000 after purchasing an additional 4,329 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new position in Cadiz in the 4th quarter worth $62,000. 79.75% of the stock is currently owned by institutional investors.

About Cadiz

Cadiz Inc, together with its subsidiaries, provides water solutions in the United States. The company operates through Land and Water Resources; and Water Filtration Technology segments. It offers water supply, water storage, water conveyance, and water filtration services. In addition, the company is involved in the cultivation of grain crops and alfalfa, as well as provides water filtration solutions for impaired or contaminated groundwater sources.