Cadiz (CDZI) Downgraded to “Sell” at BidaskClub

BidaskClub cut shares of Cadiz (NASDAQ:CDZI) from a hold rating to a sell rating in a report issued on Wednesday.

Separately, ValuEngine cut Cadiz from a hold rating to a sell rating in a research note on Friday, February 23rd.

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Shares of NASDAQ CDZI opened at $13.50 on Wednesday. The company has a market capitalization of $315.74, a P/E ratio of -9.57 and a beta of 0.59. Cadiz has a 52 week low of $9.65 and a 52 week high of $16.25. The company has a debt-to-equity ratio of -1.74, a current ratio of 2.08 and a quick ratio of 2.08.

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in Cadiz by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 203,546 shares of the company’s stock worth $2,900,000 after purchasing an additional 4,494 shares during the period. Russell Investments Group Ltd. boosted its position in Cadiz by 14.3% during the third quarter. Russell Investments Group Ltd. now owns 77,701 shares of the company’s stock worth $986,000 after purchasing an additional 9,700 shares during the period. MetLife Investment Advisors LLC bought a new stake in Cadiz during the fourth quarter worth approximately $150,000. Raymond James & Associates bought a new stake in Cadiz during the fourth quarter worth approximately $171,000. Finally, James Hambro & Partners bought a new stake in Cadiz during the fourth quarter worth approximately $249,000. 48.75% of the stock is owned by hedge funds and other institutional investors.

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About Cadiz

Cadiz Inc operates as a land and water resource development company in the United States. It engages in the water resource, and land and agricultural development activities in San Bernardino County properties. The company owns approximately 34,500 acres of land in the Cadiz and Fenner valleys of eastern San Bernardino County; and approximately 11,000 acres of land in the eastern Mojave Desert portion of San Bernardino County.

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