Coda Octopus Group Inc. $CODA Shares Sold by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC trimmed its position in shares of Coda Octopus Group Inc. (NASDAQ:CODA) by 54.8% during the fourth quarter, HoldingsChannel reports. The fund owned 121,905 shares of the company’s stock after selling 147,520 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Coda Octopus Group were worth $1,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CODA. Bank of America Corp DE increased 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 worth $25,000 after acquiring an additional 3,066 shares during the period. Marshall Wace LLP acquired a new position in shares of Coda Octopus Group during the second quarter worth about $104,000. Jane Street Group LLC acquired a new position in shares of Coda Octopus Group during the fourth quarter worth about $122,000. Commonwealth Equity Services LLC increased its stake in shares of Coda Octopus Group by 50.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 15,000 shares of the company’s stock worth $140,000 after acquiring an additional 5,000 shares during the period. Finally, Cerity Partners LLC acquired a new position in shares of Coda Octopus Group during the fourth quarter worth about $186,000. 20.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coda Octopus Group news, CFO Gayle Michelle Jardine sold 2,256 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $12.59, for a total transaction of $28,403.04. Following the transaction, the chief financial officer directly owned 2,500 shares in the company, valued at approximately $31,475. This represents a 47.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 21.80% of the company’s stock.

Wall Street Analyst Weigh In

CODA has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Coda Octopus Group from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Coda Octopus Group in a research note on Thursday, June 4th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Coda Octopus Group has a consensus rating of “Moderate Buy”.

Coda Octopus Group Trading Down 0.2%

Shares of CODA opened at $9.31 on Wednesday. The firm’s 50-day moving average is $11.93 and its two-hundred day moving average is $11.54. Coda Octopus Group Inc. has a twelve month low of $7.01 and a twelve month high of $17.28. The firm has a market capitalization of $105.02 million, a P/E ratio of 21.65 and a beta of 0.57.

Coda Octopus Group (NASDAQ:CODA) last issued its earnings results on Monday, June 15th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. Coda Octopus Group had a net margin of 17.66% and a return on equity of 8.44%. The company had revenue of $6.90 million for the quarter, compared to analyst estimates of $7.52 million.

Coda Octopus Group 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.