Cadiz (NASDAQ:CDZI) Lifted to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Cadiz (NASDAQ:CDZI) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday, BidAskClub reports.

CDZI opened at $12.31 on Thursday. The company’s fifty day moving average is $10.64. Cadiz has a fifty-two week low of $8.53 and a fifty-two week high of $13.55.

Cadiz (NASDAQ:CDZI) last posted its earnings results on Thursday, May 9th. The company reported ($0.29) earnings per share for the quarter. The company had revenue of $0.11 million for the quarter.

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its stake in Cadiz by 477.4% during the first quarter. BNP Paribas Arbitrage SA now owns 4,717 shares of the company’s stock valued at $46,000 after acquiring an additional 3,900 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in Cadiz during the fourth quarter valued at $84,000. MetLife Investment Advisors LLC purchased a new position in Cadiz during the fourth quarter valued at $116,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Cadiz in the 1st quarter worth $121,000. Finally, James Hambro & Partners purchased a new position in shares of Cadiz in the 1st quarter worth $169,000. 43.98% of the stock is owned by institutional investors.

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 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.

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