Coda Octopus Group (NASDAQ:CODA) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Coda Octopus Group (NASDAQ:CODA) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

Several other analysts have also recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Coda Octopus Group in a research note on Monday, December 29th. Alliance Global Partners restated a “buy” rating on shares of Coda Octopus Group in a report on Monday, February 9th. One equities 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 stock presently has a consensus rating of “Moderate Buy”.

Coda Octopus Group Stock Performance

NASDAQ CODA opened at $14.95 on Friday. The firm has a market cap of $168.49 million, a price-to-earnings ratio of 41.53 and a beta of 0.51. The firm has a 50 day simple moving average of $11.87 and a 200-day simple moving average of $9.84. Coda Octopus Group has a one year low of $5.76 and a one year high of $15.00.

Coda Octopus Group (NASDAQ:CODA) last released its 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. Coda Octopus Group had a net margin of 15.55% and a return on equity of 7.36%. The company had revenue of $7.27 million for the quarter, compared to analyst estimates of $6.52 million.

Institutional Investors Weigh In On Coda Octopus Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position 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 worth $25,000 after purchasing an additional 3,066 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Coda Octopus Group in the fourth quarter valued at $104,000. Trexquant Investment LP acquired a new stake in Coda Octopus Group in the fourth quarter valued at $106,000. Marshall Wace LLP acquired a new stake in Coda Octopus Group in the second quarter valued at $104,000. Finally, Jane Street Group LLC purchased a new stake in Coda Octopus Group during the 4th quarter worth about $122,000. 20.12% of the stock is currently owned by institutional investors and hedge funds.

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.