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Cadiz (NASDAQ:CDZI) Shares Cross Above 50-Day Moving Average - Here's Why

Cadiz logo with Consumer Staples background

Cadiz Inc. (NASDAQ:CDZI - Get Free Report) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $3.70 and traded as high as $5.05. Cadiz shares last traded at $4.95, with a volume of 1,869,796 shares.

Analyst Ratings Changes

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

Read Our Latest Report on CDZI

Cadiz Trading Up 9.3 %

The firm has a 50-day moving average of $3.73 and a two-hundred day moving average of $3.38. The firm has a market capitalization of $372.16 million, a P/E ratio of -9.71 and a beta of 0.97. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 3.88.

Insider Activity

In other news, major shareholder International Group Se Heerema purchased 2,070,000 shares of the company's stock in a transaction dated Tuesday, November 5th. The stock was bought at an average cost of $3.34 per share, for a total transaction of $6,913,800.00. Following the purchase, the insider now owns 22,783,965 shares of the company's stock, valued at approximately $76,098,443.10. The trade was a 9.99 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of Cadiz by 315.6% in the third quarter. Barclays PLC now owns 60,217 shares of the company's stock worth $183,000 after acquiring an additional 45,728 shares during the period. Geode Capital Management LLC increased its position in shares of Cadiz by 3.2% during the third quarter. Geode Capital Management LLC now owns 989,296 shares of the company's stock worth $2,998,000 after acquiring an additional 30,354 shares in the last quarter. B. Riley Financial Inc. raised its stake in shares of Cadiz by 125.8% in 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 last quarter. BNP Paribas Financial Markets raised its position in 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 during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Cadiz during the third quarter valued at about $58,000. Institutional investors and hedge funds own 79.75% of the company's stock.

About Cadiz

(Get Free Report)

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.

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