Wall Street Reacts Positively to Cadiz (CDZI) on Project Updates

Cadiz Inc. (NASDAQ:CDZI) is one of the 10 Best Penny Stocks to Buy for the Next 5 Years. On May 5, Cadiz Inc. (NASDAQ:CDZI) shared updates on key catalysts and highlights from the first quarter.

The company is prioritising its goal to build pipelines so it can start generating revenues from its water supply and storage projects.

Cadiz Inc. (NASDAQ:CDZI) has set an aggressive schedule as it plans to finish building the Northern Pipeline by the end of 2026. The company aims to complete the Southern Pipeline, which will be used for water storage, by the end of 2027. So far this year, Cadiz Inc. (NASDAQ:CDZI) has taken steps to stay on track with this plan.

In the first quarter, the company completed a $20 million equity raise. Cadiz Inc. (NASDAQ:CDZI) aims to use the funds to cover capital costs and development expenses in 2025.

The company is also making good progress in arranging project financing. Cadiz Inc. (NASDAQ:CDZI) is finalizing deals with both public and private partners. These deals will help fund the projects and support reaching key milestones.

Since the company shared these updates on May 5, Cadiz Inc. (NASDAQ:CDZI) has gone up by 19.38% as of August 21.

Cadiz Inc. (NASDAQ:CDZI) is a leading water solutions company. It provides expertise and a range of water solutions, including supply, storage, conveyance, and treatment.

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Disclosure: None. This article is originally published at Insider Monkey.