Coda Octopus Group (NASDAQ:CODA) Announces Earnings Results

Coda Octopus Group (NASDAQ:CODA) announced its quarterly earnings results on Thursday. The company reported $0.10 earnings per share for the quarter, FiscalAI reports. Coda Octopus Group had a net margin of 14.09% and a return on equity of 6.26%. The business had revenue of $7.27 million during the quarter.

Coda Octopus Group Trading Up 5.2%

NASDAQ:CODA traded up $0.52 during mid-day trading on Thursday, hitting $10.43. The stock had a trading volume of 68,668 shares, compared to its average volume of 173,704. Coda Octopus Group has a twelve month low of $5.76 and a twelve month high of $12.22. The stock has a 50-day simple moving average of $9.59 and a two-hundred day simple moving average of $8.78. The company has a market capitalization of $117.28 million, a PE ratio of 34.75 and a beta of 0.59.

Institutional Trading of Coda Octopus Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Corsair Capital Management L.P. acquired a new position in shares of Coda Octopus Group during the 2nd quarter worth about $127,000. Marshall Wace LLP acquired a new position in Coda Octopus Group in the second quarter valued at approximately $104,000. Jane Street Group LLC purchased a new position in Coda Octopus Group in the second quarter valued at approximately $207,000. Osaic Holdings Inc. increased its stake in Coda Octopus Group by 18.6% in the second quarter. Osaic Holdings Inc. now owns 79,434 shares of the company’s stock valued at $650,000 after purchasing an additional 12,433 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Coda Octopus Group by 2.1% during the third quarter. Vanguard Group Inc. now owns 304,058 shares of the company’s stock worth $2,440,000 after purchasing an additional 6,231 shares in the last quarter. 20.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CODA. Weiss Ratings reiterated a “hold (c+)” rating on shares of Coda Octopus Group in a report on Monday, December 29th. Wall Street Zen cut Coda Octopus Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

About Coda Octopus Group

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.