Cadiz Inc. (NASDAQ:CDZI) Sees Large Growth in Short Interest

Cadiz Inc. (NASDAQ:CDZI) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 5,280,000 shares, an increase of 6.2% from the December 15th total of 4,970,000 shares. Based on an average daily volume of 493,200 shares, the days-to-cover ratio is presently 10.7 days.

Insider Activity at Cadiz

In other Cadiz news, major shareholder International Group Se Heerema acquired 2,070,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average price of $3.34 per share, with a total value of $6,913,800.00. Following the completion of the purchase, the insider now owns 22,783,965 shares of the company’s stock, valued at approximately $76,098,443.10. This represents a 9.99 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Cadiz

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Cadiz by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 989,296 shares of the company’s stock valued at $2,998,000 after acquiring an additional 30,354 shares during the last quarter. HCR Wealth Advisors lifted its holdings in Cadiz by 15.8% during the 4th quarter. HCR Wealth Advisors now owns 528,000 shares of the company’s stock valued at $2,746,000 after buying an additional 72,079 shares in the last quarter. SG Americas Securities LLC bought a new position in Cadiz in the 3rd quarter worth about $45,000. Barclays PLC increased its position in shares of Cadiz by 315.6% during the third quarter. Barclays PLC now owns 60,217 shares of the company’s stock worth $183,000 after acquiring an additional 45,728 shares during the period. Finally, Evoke Wealth LLC raised its position in Cadiz by 70.4% during the 2nd quarter. Evoke Wealth LLC now owns 73,200 shares of the company’s stock valued at $226,000 after purchasing an additional 30,235 shares in the last quarter. 79.75% of the stock is owned by hedge funds and other institutional investors.

Cadiz Trading Up 4.7 %

Shares of NASDAQ:CDZI traded up $0.23 during trading on Monday, reaching $5.16. 535,753 shares of the company traded hands, compared to its average volume of 447,825. The business’s fifty day moving average is $4.26 and its 200-day moving average is $3.59. Cadiz has a 52-week low of $2.12 and a 52-week high of $5.68. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 3.88. The firm has a market capitalization of $387.93 million, a price-to-earnings ratio of -10.12 and a beta of 0.93.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Cadiz to a “sell” rating in a research report on Friday, November 15th.

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.