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

Cadiz Inc. (NASDAQ:CDZI)’s share price 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 changing hands.

Analyst Ratings Changes

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

Cadiz Trading Down 2.7 %

The company has a debt-to-equity ratio of 3.88, a quick ratio of 0.87 and a current ratio of 1.36. The business’s 50 day moving average price is $3.97 and its 200-day moving average price is $3.47. The firm has a market cap of $374.42 million, a price-to-earnings ratio of -9.76 and a beta of 0.93.

Insider Buying and Selling at Cadiz

In other Cadiz news, major shareholder International Group Se Heerema bought 2,070,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was purchased at an average price of $3.34 per share, for a total transaction of $6,913,800.00. Following the completion of the purchase, the insider now directly owns 22,783,965 shares in the company, valued at approximately $76,098,443.10. This trade represents a 9.99 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. HCR Wealth Advisors lifted its holdings in Cadiz by 347.6% in the second 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 last quarter. SG Americas Securities LLC bought a new stake in shares of Cadiz in the 3rd quarter worth approximately $45,000. Evoke Wealth LLC boosted its position in Cadiz by 70.4% during the 2nd 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 grew its stake in Cadiz by 27.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,386 shares of the company’s stock worth $62,000 after buying an additional 4,329 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Cadiz in the third quarter worth $58,000. 79.75% of the stock is owned by institutional investors and hedge funds.

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.