The stock of Cadiz Inc (NASDAQ:CDZI) hit a new 52-week high and has $11.16 target or 7.00% above today’s $10.43 share price. The 8 months bullish chart indicates low risk for the $200.22M company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $11.16 price target is reached, the company will be worth $14.02M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 54,807 shares traded hands. Cadiz Inc (NASDAQ:CDZI) has risen 85.71% since April 26, 2016 and is uptrending. It has outperformed by 80.45% the S&P500.
According to Zacks Investment Research, “Cadiz, Inc. acquires and develops water-related land and agricultural assets. Cadiz has created a portfolio of land-holdings, water resources and agricultural operations. With its subsidiary, Sun World International, Inc., Cadiz is one of the largest vertically integrated agricultural companies. The Company owns significant landholdings with substantial water resources.”
Insitutional Activity: The institutional sentiment decreased to 0.48 in 2016 Q2. Its down 0.20, from 0.68 in 2016Q1. The ratio dropped, as 5 funds sold all Cadiz Inc shares owned while 14 reduced positions. 4 funds bought stakes while 9 increased positions. They now own 8.13 million shares or 2.97% less from 8.38 million shares in 2016Q1.
First Manhattan owns 31,500 shares or 0% of their US portfolio. Wells Fargo And Communication Mn last reported 0% of its portfolio in the stock. Susquehanna International Group Inc Ltd Liability Partnership holds 0% of its portfolio in Cadiz Inc (NASDAQ:CDZI) for 33,293 shares. Ing Groep Nv holds 20,000 shares or 0% of its portfolio. Ingalls Snyder Limited Com, a New York-based fund reported 240,650 shares. Northern Trust, a Illinois-based fund reported 45,598 shares. Gabelli Funds Ltd Liability Corporation has invested 0% of its portfolio in Cadiz Inc (NASDAQ:CDZI). Goldman Sachs holds 0% of its portfolio in Cadiz Inc (NASDAQ:CDZI) for 14,270 shares. The New York-based Tower Limited Co (Trc) has invested 0% in Cadiz Inc (NASDAQ:CDZI). Geode Mgmt Limited Co holds 78,899 shares or 0% of its portfolio. Paloma Prns Communication accumulated 47,271 shares or 0% of the stock. Blackrock Advsr Limited Liability Com last reported 4,485 shares in the company. Art Limited Liability last reported 11,291 shares in the company. Elkhorn Ptnrs L P accumulated 721,300 shares or 2.76% of the stock. Moreover, Vanguard Grp Inc has 0% invested in Cadiz Inc (NASDAQ:CDZI) for 604,131 shares.
Insider Transactions: Since November 9, 2016, the stock had 3 insider buys, and 0 sales for $1.80 million net activity. $1.62 million worth of Cadiz Inc (NASDAQ:CDZI) was bought by Water Asset Management LLC. 5,000 shares were bought by Hickox Winston H, worth $45,663 on Wednesday, November 16.
More recent Cadiz Inc (NASDAQ:CDZI) news were published by: Globenewswire.com which released: “Cadiz Inc. Issues Statement on Apparent Bias in Bureau of Land Management’s …” on August 17, 2016. Also Quotes.Wsj.com published the news titled: “News Cadiz Inc.CDZI” on February 11, 2011. Globenewswire.com‘s news article titled: “Cadiz Inc. Announces California Court of Appeals Upholds Water Project’s …” with publication date: May 10, 2016 was also an interesting one.
CDZI Company Profile
Cadiz Inc., incorporated on April 27, 1992, is a land and water resource development firm with approximately 45,000 acres of land in three areas of eastern San Bernardino County, California. The Company’s primary business is to acquire and develop land with water resources for various uses, including groundwater supply, groundwater storage and agriculture. The Firm is focused on the development of the Cadiz Valley Water Conservation, Recovery and Storage Project (Water Project or Project), which captures and conserves millions of acre-feet of native groundwater being lost to evaporation from the aquifer system beneath its approximately 34,000-acre property in the Cadiz and Fenner valleys of eastern San Bernardino County (the Cadiz/Fenner Property), and deliver it to water providers throughout Southern California. The Company’s development activities include water resource and agricultural development at its San Bernardino County properties.
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