Cadiz (NASDAQ:CDZI) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

Cadiz Inc. (NASDAQ:CDZI) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $3.97 and traded as high as $5.20. Cadiz shares last traded at $4.98, with a volume of 394,011 shares trading hands.

Wall Street Analyst Weigh In

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

Cadiz Trading Down 2.7 %

The firm has a market capitalization of $374.42 million, a P/E ratio of -9.76 and a beta of 0.93. The business’s 50 day moving average is $3.97 and its two-hundred day moving average is $3.47. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 3.88.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CDZI. Barclays PLC boosted its holdings in Cadiz by 315.6% during the third quarter. Barclays PLC now owns 60,217 shares of the company’s stock worth $183,000 after buying an additional 45,728 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cadiz by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 989,296 shares of the company’s stock valued at $2,998,000 after acquiring an additional 30,354 shares during the last quarter. B. Riley Financial Inc. boosted its stake in shares of Cadiz by 125.8% during the 3rd quarter. B. Riley Financial Inc. now owns 187,418 shares of the company’s stock worth $568,000 after acquiring an additional 104,400 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Cadiz by 27.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,386 shares of the company’s stock worth $62,000 after acquiring an additional 4,329 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Cadiz in the 3rd quarter valued at $58,000. Institutional investors own 79.75% of the company’s stock.

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.