B. Riley Estimates Cadiz’s FY2024 Earnings (NASDAQ:CDZI)

Cadiz Inc. (NASDAQ:CDZI) – Analysts at B. Riley cut their FY2024 earnings per share estimates for shares of Cadiz in a research note issued on Wednesday, November 13th. B. Riley analyst M. Crawford now anticipates that the company will post earnings of ($0.47) per share for the year, down from their prior estimate of ($0.46). The consensus estimate for Cadiz’s current full-year earnings is ($0.47) per share. B. Riley also issued estimates for Cadiz’s FY2026 earnings at ($0.34) EPS.

Separately, StockNews.com raised shares of Cadiz to a “sell” rating in a report on Friday.

Cadiz Stock Performance

NASDAQ:CDZI opened at $3.32 on Monday. Cadiz has a twelve month low of $2.12 and a twelve month high of $3.85. The company has a quick ratio of 1.40, a current ratio of 1.36 and a debt-to-equity ratio of 3.88. The stock’s 50-day simple moving average is $3.15 and its 200 day simple moving average is $3.14. The firm has a market capitalization of $226.35 million, a PE ratio of -6.51 and a beta of 0.85.

Insider Buying and Selling at Cadiz

In other news, major shareholder International Group Se Heerema bought 2,070,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was purchased at an average cost of $3.34 per share, for a total transaction of $6,913,800.00. Following the completion of the transaction, the insider now owns 22,783,965 shares of the company’s stock, valued at $76,098,443.10. This trade represents a 9.99 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Cadiz

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

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.