B. Riley Has Bearish Estimate for Cadiz FY2024 Earnings

Cadiz Inc. (NASDAQ:CDZI) – B. Riley cut their FY2024 earnings per share estimates for Cadiz in a research note issued to investors on Wednesday, November 13th. B. Riley analyst M. Crawford now anticipates that the company will post earnings per share of ($0.47) for the year, down from their prior 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 note on Friday, November 15th.

Cadiz Stock Down 2.4 %

Shares of Cadiz stock opened at $3.24 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 3.88. The company has a market cap of $243.58 million, a P/E ratio of -6.35 and a beta of 0.85. The firm’s 50 day moving average price is $3.16 and its 200-day moving average price is $3.15. Cadiz has a 52-week low of $2.12 and a 52-week high of $3.85.

Insider Transactions at Cadiz

In related news, major shareholder International Group Se Heerema acquired 2,070,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average price of $3.34 per share, for a total transaction 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. The trade was a 9.99 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Trading of Cadiz

Large investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC purchased a new position in shares of Cadiz in the second quarter worth $31,000. SG Americas Securities LLC acquired a new position in shares of Cadiz in the 3rd quarter valued at $45,000. The Manufacturers Life Insurance Company acquired a new position in shares of Cadiz in the 3rd quarter valued at $58,000. Joel Isaacson & Co. LLC raised its stake in Cadiz by 70.8% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 20,500 shares of the company’s stock worth $62,000 after acquiring an additional 8,500 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Cadiz by 27.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,386 shares of the company’s stock worth $62,000 after acquiring an additional 4,329 shares during the period. Hedge funds and other institutional investors own 79.75% 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.