Coda Octopus Group Inc. (NASDAQ:CODA) Short Interest Down 38.9% in January

Coda Octopus Group Inc. (NASDAQ:CODA) was the recipient of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 60,323 shares, a decrease of 38.9% from the January 15th total of 98,698 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average trading volume of 149,108 shares, the short-interest ratio is presently 0.4 days. Based on an average trading volume of 149,108 shares, the short-interest ratio is presently 0.4 days. Approximately 0.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CODA shares. Alliance Global Partners reaffirmed a “buy” rating on shares of Coda Octopus Group in a report on Monday, February 9th. 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 report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Coda Octopus Group by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 304,058 shares of the company’s stock worth $2,440,000 after acquiring an additional 6,231 shares during the period. Marshall Wace LLP grew its stake in shares of Coda Octopus Group by 79.6% during the 4th quarter. Marshall Wace LLP now owns 158,232 shares of the company’s stock valued at $1,472,000 after buying an additional 70,146 shares during the period. Archon Capital Management LLC acquired a new stake in shares of Coda Octopus Group during the 4th quarter worth $1,395,000. Dimensional Fund Advisors LP raised its position in shares of Coda Octopus Group by 29.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 79,802 shares of the company’s stock worth $742,000 after buying an additional 18,241 shares during the period. Finally, Osaic Holdings Inc. raised its position in shares of Coda Octopus Group by 18.6% in the 2nd quarter. Osaic Holdings Inc. now owns 79,434 shares of the company’s stock worth $650,000 after buying an additional 12,433 shares during the period. 20.12% of the stock is owned by hedge funds and other institutional investors.

Coda Octopus Group Stock Up 3.6%

NASDAQ CODA traded up $0.47 during mid-day trading on Friday, hitting $13.40. The stock had a trading volume of 352,904 shares, compared to its average volume of 184,357. The company has a 50 day simple moving average of $10.34 and a 200 day simple moving average of $9.09. The company has a market cap of $151.02 million, a price-to-earnings ratio of 37.22 and a beta of 0.58. Coda Octopus Group has a 52-week low of $5.76 and a 52-week high of $13.61.

Coda Octopus Group (NASDAQ:CODA) last posted its earnings results on Thursday, January 29th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. Coda Octopus Group had a return on equity of 7.36% and a net margin of 15.55%.The company had revenue of $7.27 million for the quarter, compared to analyst estimates of $6.52 million.

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.