Coda Octopus Group (NASDAQ:CODA) Upgraded to Buy at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Coda Octopus Group (NASDAQ:CODA – Free Report) from a hold rating to a buy rating in a research note released on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Coda Octopus Group in a report on Monday, December 1st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Get Our Latest Stock Report on CODA

Coda Octopus Group Stock Down 2.3%

CODA stock opened at $8.59 on Friday. The company has a market cap of $96.64 million, a price-to-earnings ratio of 28.63 and a beta of 0.61. The business has a fifty day simple moving average of $8.94 and a 200-day simple moving average of $8.15. Coda Octopus Group has a 52 week low of $5.76 and a 52 week high of $10.54.

Coda Octopus Group (NASDAQ:CODA – Get Free Report) last posted its quarterly earnings results on Monday, September 15th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $7.06 million during the quarter, compared to the consensus estimate of $7.07 million. Coda Octopus Group had a return on equity of 6.26% and a net margin of 14.09%.

Insider Buying and Selling at Coda Octopus Group

In related news, major shareholder Niels Sondergaard sold 150,000 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $8.15, for a total transaction of $1,222,500.00. Following the completion of the sale, the insider directly owned 2,045,211 shares of the company’s stock, valued at approximately $16,668,469.65. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 206,370 shares of company stock valued at $1,685,214 in the last ninety days. 21.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coda Octopus Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in shares of Coda Octopus Group by 5,475.0% during the third quarter. Bank of America Corp DE now owns 3,122 shares of the company’s stock valued at $25,000 after acquiring an additional 3,066 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Coda Octopus Group in the second quarter worth about $104,000. Corsair Capital Management L.P. acquired a new position in shares of Coda Octopus Group in the second quarter worth about $127,000. Jane Street Group LLC purchased a new position in Coda Octopus Group in the second quarter valued at about $207,000. Finally, Dimensional Fund Advisors LP grew its stake in Coda Octopus Group by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 61,561 shares of the company’s stock valued at $494,000 after purchasing an additional 1,562 shares in the last quarter. 20.12% of the stock is owned by hedge funds and other institutional investors.

About Coda Octopus Group

(Get Free Report)

Coda Octopus Group, Inc, together with its subsidiaries, develops, sells, and rentals underwater technologies and equipment for real time 3D imaging, mapping, defense, and survey applications in the Americas, Europe, Australia, Asia, the Middle East, and Africa. The company operates through two segments, Marine Engineering Business and Marine Technology Business.

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