Cadiz Inc. (NASDAQ:CDZIP) Short Interest Update

Cadiz Inc. (NASDAQ:CDZIP – Get Rating) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 4,500 shares, an increase of 9.8% from the February 13th total of 4,100 shares. Based on an average trading volume of 3,200 shares, the days-to-cover ratio is presently 1.4 days.

Insider Activity at Cadiz

In other news, major shareholder International Group Se Heerema purchased 3,675,000 shares of the firm’s stock in a transaction on Thursday, February 2nd. The stock was purchased at an average cost of $3.84 per share, with a total value of $14,112,000.00. Following the purchase, the insider now owns 20,513,965 shares in the company, valued at approximately $78,773,625.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 3,684,905 shares of company stock worth $14,137,616 in the last three months.

Cadiz Stock Performance

Cadiz stock opened at $15.35 on Wednesday. Cadiz has a 52 week low of $9.63 and a 52 week high of $18.31. The business has a 50-day simple moving average of $15.68.

Cadiz Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Wednesday, January 4th were paid a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, January 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 14.59%. This is a boost from Cadiz’s previous quarterly dividend of $0.55.

Cadiz Company Profile

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Cadiz Inc, together with its subsidiaries, operates as a natural resources development company in the United States. It engages in the water resource and agricultural development activities in San Bernardino County properties. The company owns approximately 35,000 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.