Short Interest in Coda Octopus Group Inc. (NASDAQ:CODA) Drops By 38.9%

Coda Octopus Group Inc. (NASDAQ:CODA) was the recipient of a significant decline in short interest in January. As of January 30th, there was short interest totaling 60,323 shares, a decline of 38.9% from the January 15th total of 98,698 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average trading volume of 149,108 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 149,108 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.7% of the company’s stock are short sold.

Coda Octopus Group Trading Up 3.6%

Shares of CODA traded up $0.47 during trading hours on Friday, reaching $13.40. 352,904 shares of the stock traded hands, compared to its average volume of 196,559. Coda Octopus Group has a 52 week low of $5.76 and a 52 week high of $13.61. The company has a market cap of $151.02 million, a price-to-earnings ratio of 37.22 and a beta of 0.58. The stock has a fifty day simple moving average of $10.34 and a 200 day simple moving average of $9.11.

Coda Octopus Group (NASDAQ:CODA) last posted its quarterly earnings data on Thursday, January 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $7.27 million during the quarter, compared to analyst estimates of $6.52 million.

Institutional Investors Weigh In On Coda Octopus Group

Large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in Coda Octopus Group by 5,475.0% in the 3rd quarter. Bank of America Corp DE now owns 3,122 shares of the company’s stock valued at $25,000 after acquiring an additional 3,066 shares during the period. Marshall Wace LLP purchased a new position in Coda Octopus Group in the 2nd quarter valued at approximately $104,000. Jane Street Group LLC bought a new stake in Coda Octopus Group during the 4th quarter valued at $122,000. Corsair Capital Management L.P. purchased a new stake in shares of Coda Octopus Group during the second quarter worth $127,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of Coda Octopus Group by 50.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 15,000 shares of the company’s stock valued at $140,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 20.12% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Coda Octopus Group from a “hold” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Alliance Global Partners reiterated a “buy” rating on shares of Coda Octopus Group in a report on Monday, February 9th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Coda Octopus Group in a report on Monday, December 29th. 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, Coda Octopus Group has a consensus 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.