Cadiz Inc. (NASDAQ:CDZI) Forecasted to Post FY2024 Earnings of ($0.41) Per Share

Cadiz Inc. (NASDAQ:CDZI) – Equities researchers at B. Riley cut their FY2024 earnings estimates for Cadiz in a report released on Sunday, May 19th. B. Riley analyst M. Crawford now expects that the company will earn ($0.41) per share for the year, down from their previous forecast of ($0.19). The consensus estimate for Cadiz’s current full-year earnings is ($0.19) per share. B. Riley also issued estimates for Cadiz’s FY2025 earnings at ($0.34) EPS.

Separately, StockNews.com upgraded shares of Cadiz to a “sell” rating in a report on Thursday, May 16th.

Cadiz Stock Performance

Cadiz stock opened at $3.14 on Wednesday. The company has a current ratio of 2.86, a quick ratio of 2.54 and a debt-to-equity ratio of 2.12. The firm has a 50-day moving average of $2.52 and a 200-day moving average of $2.77. The firm has a market cap of $212.86 million, a P/E ratio of -6.41 and a beta of 0.75. Cadiz has a 1-year low of $2.12 and a 1-year high of $5.80.

Cadiz (NASDAQ:CDZI) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $0.68 million for the quarter. Cadiz had a negative net margin of 925.72% and a negative return on equity of 62.43%.

Hedge Funds Weigh In On Cadiz

Institutional investors have recently bought and sold shares of the stock. American Assets Investment Management LLC increased its stake in shares of Cadiz by 6.6% during the fourth quarter. American Assets Investment Management LLC now owns 82,748 shares of the company’s stock valued at $232,000 after purchasing an additional 5,158 shares in the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Cadiz during the third quarter valued at approximately $38,000. Russell Investments Group Ltd. increased its stake in shares of Cadiz by 15,764.9% during the fourth quarter. Russell Investments Group Ltd. now owns 12,216 shares of the company’s stock valued at $34,000 after purchasing an additional 12,139 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in shares of Cadiz by 70.8% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 41,000 shares of the company’s stock valued at $119,000 after purchasing an additional 17,000 shares in the last quarter. Finally, Kepos Capital LP bought a new position in shares of Cadiz during the third quarter valued at approximately $61,000. 79.75% of the stock is owned by institutional investors.

Insider Transactions at Cadiz

In related news, CEO Susan P. Kennedy purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was bought at an average cost of $2.25 per share, with a total value of $56,250.00. Following the completion of the purchase, the chief executive officer now directly owns 966,921 shares in the company, valued at $2,175,572.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by company insiders.

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.