B. Riley Weighs in on Cadiz’s FY2024 Earnings (NASDAQ:CDZI)

Cadiz Inc. (NASDAQ:CDZI) – Equities researchers at B. Riley lowered their FY2024 earnings per share (EPS) estimates for shares of Cadiz in a report issued on Wednesday, November 13th. B. Riley analyst M. Crawford now expects that the company will post earnings per share of ($0.47) for the year, down from their previous forecast of ($0.46). The consensus estimate for Cadiz’s current full-year earnings is ($0.47) per share. B. Riley also issued estimates for Cadiz’s FY2026 earnings at ($0.34) EPS.

Separately, StockNews.com upgraded shares of Cadiz to a “sell” rating in a research note on Friday.

Cadiz Price Performance

Shares of CDZI opened at $3.32 on Monday. The company’s 50-day moving average is $3.15 and its 200-day moving average is $3.14. The company has a debt-to-equity ratio of 3.88, a current ratio of 1.36 and a quick ratio of 1.40. The firm has a market capitalization of $226.35 million, a PE ratio of -6.51 and a beta of 0.85. Cadiz has a fifty-two week low of $2.12 and a fifty-two week high of $3.85.

Institutional Trading of Cadiz

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC acquired a new position in shares of Cadiz during the 2nd quarter worth approximately $31,000. SG Americas Securities LLC bought a new stake in shares of Cadiz in the third quarter valued at approximately $45,000. The Manufacturers Life Insurance Company acquired a new stake in Cadiz during the third quarter worth approximately $58,000. Joel Isaacson & Co. LLC increased its stake in Cadiz by 70.8% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 20,500 shares of the company’s stock worth $62,000 after acquiring an additional 8,500 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Cadiz by 27.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,386 shares of the company’s stock valued at $62,000 after acquiring an additional 4,329 shares in the last quarter. Institutional investors and hedge funds own 79.75% of the company’s stock.

Insider Activity

In other Cadiz news, major shareholder International Group Se Heerema bought 2,070,000 shares of Cadiz stock in a transaction dated Tuesday, November 5th. The stock was bought at an average price of $3.34 per share, with a total value of $6,913,800.00. Following the completion of the transaction, the insider now owns 22,783,965 shares in the company, valued at $76,098,443.10. The trade was a 9.99 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by company insiders.

Cadiz Company Profile

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.