Coda Octopus Group Inc. (NASDAQ:CODA) Short Interest Update

Coda Octopus Group Inc. (NASDAQ:CODA) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 98,698 shares, a growth of 65.5% from the December 31st total of 59,637 shares. Based on an average daily volume of 215,828 shares, the short-interest ratio is presently 0.5 days. Approximately 1.1% of the shares of the stock are sold short. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 215,828 shares, the short-interest ratio is presently 0.5 days.

Hedge Funds Weigh In On Coda Octopus Group

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

Coda Octopus Group Stock Down 2.0%

Shares of CODA stock traded down $0.22 during mid-day trading on Friday, hitting $10.65. 213,333 shares of the company’s stock were exchanged, compared to its average volume of 174,584. The stock has a market cap of $119.81 million, a price-to-earnings ratio of 29.58 and a beta of 0.59. Coda Octopus Group has a fifty-two week low of $5.76 and a fifty-two week high of $12.22. The stock has a 50-day simple moving average of $9.69 and a two-hundred day simple moving average of $8.81.

Coda Octopus Group (NASDAQ:CODA) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $7.27 million for the quarter, compared to analyst estimates of $6.52 million. Coda Octopus Group had a return on equity of 7.45% and a net margin of 15.55%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CODA. Wall Street Zen upgraded Coda Octopus Group from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Coda Octopus Group in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

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.