B. Riley Weighs in on Cadiz's FY2024 Earnings (NASDAQ:CDZI)

Cadiz Inc. (NASDAQ:CDZI - Free Report) - Analysts at B. Riley dropped their FY2024 earnings per share (EPS) estimates for shares of Cadiz in a research note issued to investors on Wednesday, November 13th. B. Riley analyst M. Crawford now expects that the company will earn ($0.47) per share for the year, down from their previous forecast 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 shares of Cadiz to a "sell" rating in a research report on Friday.

Cadiz Price Performance

NASDAQ:CDZI remained flat at $3.32 on Monday. 303,022 shares of the company's stock traded hands, compared to its average volume of 209,335. The stock has a fifty day moving average price of $3.15 and a two-hundred day moving average price of $3.14. 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 quick ratio of 1.40 and a current ratio of 1.36. The firm has a market capitalization of $226.35 million, a PE ratio of -6.51 and a beta of 0.85.

Insider Activity

In related news, major shareholder International Group Se Heerema purchased 2,070,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average cost of $3.34 per share, with a total value of $6,913,800.00. Following the completion of the acquisition, the insider now directly owns 22,783,965 shares in the company, valued at $76,098,443.10. This trade represents a 9.99 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.70% of the company's stock.

Institutional Trading of Cadiz

Institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new stake in Cadiz during the 2nd quarter valued at $31,000. SG Americas Securities LLC purchased a new stake in shares of Cadiz in the 3rd quarter valued at $45,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Cadiz during the 3rd quarter worth approximately $58,000. BNP Paribas Financial Markets boosted its holdings in shares of Cadiz by 27.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,386 shares of the company's stock valued at $62,000 after buying an additional 4,329 shares in the last quarter. Finally, Joel Isaacson & Co. LLC grew its holdings in Cadiz by 70.8% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 20,500 shares of the company's stock valued at $62,000 after buying an additional 8,500 shares during the last quarter. Institutional investors and hedge funds own 79.75% of the company's stock.

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.