Cadiz Inc. Forecasted to Post Q2 2024 Earnings of ($0.10) Per Share (NASDAQ:CDZI)

Cadiz Inc. (NASDAQ:CDZI) – B. Riley issued their Q2 2024 earnings per share estimates for Cadiz in a research report issued to clients and investors on Sunday, May 19th. B. Riley analyst M. Crawford anticipates that the company will post earnings of ($0.10) per share for the quarter. The consensus estimate for Cadiz’s current full-year earnings is ($0.19) per share. B. Riley also issued estimates for Cadiz’s Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.09) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.08) EPS, Q1 2026 earnings at ($0.11) EPS and FY2026 earnings at ($0.22) EPS.

Separately, StockNews.com upgraded Cadiz to a “sell” rating in a research note on Thursday, May 16th.

Cadiz Price Performance

Shares of NASDAQ CDZI opened at $3.14 on Tuesday. The firm has a market cap of $212.86 million, a price-to-earnings ratio of -6.41 and a beta of 0.75. The stock has a fifty day simple moving average of $2.52 and a two-hundred day simple moving average of $2.77. The company has a current ratio of 2.86, a quick ratio of 2.54 and a debt-to-equity ratio of 2.12. Cadiz has a 1-year low of $2.12 and a 1-year high of $5.80.

Cadiz (NASDAQ:CDZI) last released its earnings results on Thursday, March 28th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The company had revenue of $0.68 million for the quarter. Cadiz had a negative net margin of 925.72% and a negative return on equity of 62.43%.

Insider Activity at Cadiz

In related news, CEO Susan P. Kennedy bought 25,000 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were purchased at an average price of $2.25 per share, for a total transaction of $56,250.00. Following the completion of the transaction, the chief executive officer now directly owns 966,921 shares in the company, valued at approximately $2,175,572.25. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is owned by company insiders.

Institutional Trading of Cadiz

Several institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in Cadiz by 15,764.9% during the fourth quarter. Russell Investments Group Ltd. now owns 12,216 shares of the company’s stock worth $34,000 after buying an additional 12,139 shares in the last quarter. Gamco Investors INC. ET AL purchased a new stake in Cadiz in the third quarter valued at approximately $38,000. Spartan Fund Management Inc. bought a new stake in Cadiz during the fourth quarter valued at approximately $57,000. Kepos Capital LP bought a new position in shares of Cadiz in the 3rd quarter worth $61,000. Finally, BNP Paribas Financial Markets raised its position in shares of Cadiz by 212.2% during the 1st quarter. BNP Paribas Financial Markets now owns 35,264 shares of the company’s stock valued at $102,000 after buying an additional 23,968 shares in the last quarter. 79.75% of the stock is currently owned by hedge funds and other institutional investors.

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.