Cadiz (NASDAQ:CDZI) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Cadiz Inc. (NASDAQ:CDZI) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.70 and traded as high as $5.05. Cadiz shares last traded at $4.95, with a volume of 1,869,796 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Cadiz to a “sell” rating in a research note on Friday, November 15th.

Cadiz Stock Performance

The stock has a market cap of $372.16 million, a PE ratio of -9.71 and a beta of 0.97. The firm’s 50-day moving average is $3.70 and its 200 day moving average is $3.37. The company has a debt-to-equity ratio of 3.88, a quick ratio of 0.87 and a current ratio of 1.36.

Insider Activity

In related news, major shareholder International Group Se Heerema bought 2,070,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $3.34 per share, with a total value of $6,913,800.00. Following the completion of the acquisition, the insider now owns 22,783,965 shares in the company, valued at approximately $76,098,443.10. This trade represents a 9.99 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Cadiz

A number of hedge funds and other institutional investors have recently bought and sold shares of CDZI. HCR Wealth Advisors lifted its stake in shares of Cadiz by 347.6% in the 2nd quarter. HCR Wealth Advisors now owns 366,687 shares of the company’s stock worth $1,133,000 after acquiring an additional 284,766 shares during the period. SG Americas Securities LLC purchased a new position in Cadiz during the third quarter worth about $45,000. Evoke Wealth LLC lifted its position in Cadiz by 70.4% in the second quarter. Evoke Wealth LLC now owns 73,200 shares of the company’s stock valued at $226,000 after purchasing an additional 30,235 shares during the period. BNP Paribas Financial Markets boosted 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 purchasing an additional 4,329 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Cadiz during the 3rd quarter worth approximately $58,000. 79.75% of the stock is currently owned by hedge funds and other 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.