Cadiz Inc. (NASDAQ:CDZI) shares, rose in value on Friday, 08/05/22, with the stock price up by 3.93% to the previous day’s close as strong demand from buyers drove the stock to $4.23.
Actively observing the price movement in the last trading, the stock closed the session at $4.07, falling within a range of $3.97 and $4.25. The value of beta (5-year monthly) was -0.01. Referring to stock’s 52-week performance, its high was $14.69, and the low was $1.66. On the whole, CDZI has fluctuated by 76.99% over the past month.
With the market capitalization of Cadiz Inc. currently standing at about $201.69 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 24, 2022 – Mar 28, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0, which is expected to increase to -$0.1 for fiscal year -$0.53 and then to about -$0.46 by fiscal year 2023. Data indicates that the EPS growth is expected to be 31.20% in 2023, while the next year’s EPS growth is forecast to be 13.20%.
According to the average forecast, sales growth in current quarter could jump up 2.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $2.66 million, representing an increase of 371.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CDZI’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CDZI currently trading nearly 34.07% and 62.91% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 69.57, while the 7-day volatility ratio is showing 13.03% which for the 30-day chart, stands at 8.30%. Furthermore, Cadiz Inc. (CDZI)’s beta value is 0.25, and its average true range (ATR) is 0.29.
A comparison of Cadiz Inc. (CDZI) with its peers suggests the former has fared considerably weaker in the market. CDZI showed an intraday change of 3.93% in last session, and over the past year, it shrunk by -67.93%%. In comparison, California Water Service Group (CWT) has moved lower at -2.54% on the day and was down -9.18% over the past 12 months. On the other hand, the price of American States Water Company (AWR) has fallen -2.86% on the day. The stock, however, is off -3.99% from where it was a year ago. Additionally, there is a loss of -1.89% for American Water Works Company Inc. (AWK) in last trading while the stock has seen an overall depriciation of -13.37%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.16%. Meanwhile, the Dow Jones Industrial Improved by 0.23%.
Data on historical trading for Cadiz Inc. (NASDAQ:CDZI) indicates that the trading volumes over the past 10 days have averaged 0.35 million and over the past 3 months, they’ve averaged 278.96K. According to company’s latest data on outstanding shares, there are 44.43 million shares outstanding.
Nearly 5.20% of Cadiz Inc.’s shares belong to company insiders and institutional investors own 22.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.01 million shares as on Jul 14, 2022, resulting in a short ratio of 2.87. According to the data, the short interest in Cadiz Inc. (CDZI) stood at 1.99% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 1.7 million. The stock has risen by 9.59% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CDZI stock heading into the next quarter.