Cadiz Inc. (NASDAQ:CDZI) Major Shareholder Buys $6,913,800.00 in Stock

Cadiz Inc. (NASDAQ:CDZI) major shareholder International Group Se Heerema bought 2,070,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average cost of $3.34 per share, for a total transaction of $6,913,800.00. Following the completion of the purchase, the insider now owns 22,783,965 shares in the company, valued at approximately $76,098,443.10. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Cadiz Price Performance

CDZI stock traded up $0.19 during trading on Wednesday, hitting $3.77. The stock had a trading volume of 565,460 shares, compared to its average volume of 191,592. The company has a current ratio of 1.89, a quick ratio of 1.40 and a debt-to-equity ratio of 2.86. Cadiz Inc. has a twelve month low of $2.12 and a twelve month high of $3.85. The company’s 50-day moving average price is $3.12 and its two-hundred day moving average price is $3.07.

Cadiz (NASDAQ:CDZI) last issued its earnings results on Tuesday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The company had revenue of $0.51 million for the quarter, compared to analyst estimates of $4.00 million. Cadiz had a negative return on equity of 77.51% and a negative net margin of 1,095.05%. As a group, equities research analysts anticipate that Cadiz Inc. will post -0.47 EPS for the current fiscal year.

Institutional Trading of Cadiz

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its position in shares of Cadiz by 6.8% during the second quarter. Rhumbline Advisers now owns 46,978 shares of the company’s stock worth $145,000 after acquiring an additional 2,995 shares during the period. Joel Isaacson & Co. LLC increased its position in shares of Cadiz by 70.8% during the third 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 period. Nisa Investment Advisors LLC purchased a new stake in shares of Cadiz during the second quarter worth $31,000. Elkhorn Partners Limited Partnership increased its position in shares of Cadiz by 2.3% during the second quarter. Elkhorn Partners Limited Partnership now owns 655,247 shares of the company’s stock worth $2,025,000 after acquiring an additional 14,447 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Cadiz during the third quarter worth $45,000. 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.