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

Cadiz Inc. (NASDAQ:CDZI) – Research analysts at B. Riley lowered their FY2024 earnings estimates for shares of Cadiz in a report released on Wednesday, November 13th. B. Riley analyst M. Crawford now forecasts that the company will post earnings per share of ($0.47) 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 upgraded Cadiz to a “sell” rating in a research note on Friday.

Cadiz Trading Up 2.5 %

NASDAQ:CDZI opened at $3.32 on Monday. The business’s 50-day moving average is $3.15 and its two-hundred day moving average is $3.14. The firm has a market capitalization of $226.36 million, a PE ratio of -6.51 and a beta of 0.85. Cadiz has a 12 month low of $2.12 and a 12 month high of $3.85. The company has a debt-to-equity ratio of 3.88, a current ratio of 1.36 and a quick ratio of 1.40.

Hedge Funds Weigh In On Cadiz

Several institutional investors and hedge funds have recently made changes to their positions in CDZI. Levin Capital Strategies L.P. raised its holdings in Cadiz by 116.2% in the first quarter. Levin Capital Strategies L.P. now owns 2,105,529 shares of the company’s stock valued at $6,106,000 after acquiring an additional 1,131,576 shares in the last quarter. HCR Wealth Advisors increased its holdings in Cadiz by 347.6% in the second quarter. HCR Wealth Advisors now owns 366,687 shares of the company’s stock valued at $1,133,000 after buying an additional 284,766 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Cadiz by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 2,280,495 shares of the company’s stock valued at $6,613,000 after acquiring an additional 113,834 shares in the last quarter. B. Riley Financial Inc. lifted its position in shares of Cadiz by 125.8% in the 3rd quarter. B. Riley Financial Inc. now owns 187,418 shares of the company’s stock worth $568,000 after buying an additional 104,400 shares during the last quarter. Finally, GAM Holding AG lifted its holdings in Cadiz by 100.0% in the third quarter. GAM Holding AG now owns 100,000 shares of the company’s stock worth $303,000 after acquiring an additional 50,000 shares during the last quarter. 79.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Cadiz news, major shareholder International Group Se Heerema acquired 2,070,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were bought at an average cost of $3.34 per share, for a total transaction of $6,913,800.00. Following the acquisition, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

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.