Short Interest in Coda Octopus Group Inc. (NASDAQ:CODA) Decreases By 38.9%
by Tristan Rich · The Markets DailyCoda Octopus Group Inc. (NASDAQ:CODA – Get Free Report) was the recipient of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 60,323 shares, a decline of 38.9% from the January 15th total of 98,698 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily volume of 149,108 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 149,108 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.7% of the company’s shares are short sold.
Wall Street Analysts Forecast Growth
CODA has been the subject of several analyst reports. Alliance Global Partners reiterated a “buy” rating on shares of Coda Octopus Group in a research report on Monday. Wall Street Zen raised shares of Coda Octopus Group from a “hold” rating to a “strong-buy” rating in a report on Saturday, January 31st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Coda Octopus Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.
Read Our Latest Stock Analysis on CODA
Coda Octopus Group Price Performance
Coda Octopus Group stock opened at $12.93 on Friday. The company’s 50 day simple moving average is $10.25 and its 200 day simple moving average is $9.05. Coda Octopus Group has a fifty-two week low of $5.76 and a fifty-two week high of $13.59. The firm has a market capitalization of $145.72 million, a price-to-earnings ratio of 35.92 and a beta of 0.58.
Coda Octopus Group (NASDAQ:CODA – Get Free Report) last issued its earnings results on Thursday, January 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The firm had revenue of $7.27 million during the quarter, compared to the consensus estimate of $6.52 million. Coda Octopus Group had a net margin of 15.55% and a return on equity of 7.36%.
Institutional Trading of Coda Octopus Group
Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in 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 worth $25,000 after acquiring an additional 3,066 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Coda Octopus Group during the second quarter worth about $104,000. Jane Street Group LLC bought a new position in shares of Coda Octopus Group during the 4th quarter valued at about $122,000. Corsair Capital Management L.P. acquired a new position in shares of Coda Octopus Group in the 2nd quarter valued at approximately $127,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Coda Octopus Group by 50.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 15,000 shares of the company’s stock valued at $140,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 20.12% of the company’s stock.
Coda Octopus Group Company Profile
Coda Octopus Group, Inc is a technology company that develops and sells real-time 3D sonar systems and related solutions for underwater applications. Its flagship Echoscope® real-time 3D sonar system enables clients to visualize subsea structures and seabed conditions in unprecedented detail. The company’s product portfolio also includes BathyCORR® geophysical survey processing software, a range of ROV and USV inspection tools, and advanced subsea positioning and motion reference units. These technologies support tasks such as inspection, maintenance, salvage, survey, and security in challenging marine environments.
The company serves a broad set of industries, including offshore oil and gas, marine mining, defense, civil engineering, telecommunications, and scientific research.