Cadiz (NASDAQ:CDZI) Rating Increased to Hold at BidaskClub

Cadiz (NASDAQ:CDZI) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday, BidAskClub reports.

Separately, ValuEngine raised shares of Cadiz from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd.

CDZI opened at $10.05 on Friday. The stock’s 50 day simple moving average is $10.24 and its 200 day simple moving average is $10.66. Cadiz has a 1 year low of $8.42 and a 1 year high of $12.97.

Cadiz (NASDAQ:CDZI) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The firm had revenue of $0.15 million during the quarter. Research analysts forecast that Cadiz will post -0.35 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDZI. Legal & General Group Plc grew its position in shares of Cadiz by 201.2% in the 1st quarter. Legal & General Group Plc now owns 20,123 shares of the company’s stock worth $217,000 after buying an additional 13,441 shares during the last quarter. Citigroup Inc. lifted its stake in Cadiz by 36.3% in the first quarter. Citigroup Inc. now owns 3,747 shares of the company’s stock worth $44,000 after acquiring an additional 997 shares during the period. SG Americas Securities LLC bought a new stake in Cadiz in the second quarter valued at $110,000. Geode Capital Management LLC increased its position in Cadiz by 26.4% during the 1st quarter. Geode Capital Management LLC now owns 346,115 shares of the company’s stock valued at $4,039,000 after purchasing an additional 72,369 shares during the period. Finally, Bessemer Group Inc. bought a new position in Cadiz in the 2nd quarter worth $238,000. 20.54% of the stock is owned by institutional investors and hedge funds.

About Cadiz

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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