Coda Octopus Group Inc. (NASDAQ:CODA) Short Interest Up 185.0% in March

Coda Octopus Group Inc. (NASDAQ:CODA) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 206,823 shares, an increase of 185.0% from the February 26th total of 72,570 shares. Based on an average daily volume of 588,337 shares, the days-to-cover ratio is presently 0.4 days. Approximately 2.3% of the shares of the company are short sold.

Analyst Ratings Changes

CODA has been the topic of a number of analyst reports. Alliance Global Partners reaffirmed a “buy” rating on shares of Coda Octopus Group in a report on Monday, February 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Coda Octopus Group in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Coda Octopus Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Coda Octopus Group Price Performance

CODA stock opened at $11.94 on Thursday. The firm has a 50 day simple moving average of $12.65 and a two-hundred day simple moving average of $10.28. The stock has a market cap of $134.68 million, a PE ratio of 33.17 and a beta of 0.51. Coda Octopus Group has a one year low of $5.76 and a one year high of $17.28.

Coda Octopus Group (NASDAQ:CODA) last posted its quarterly earnings data on Tuesday, March 17th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Coda Octopus Group had a net margin of 14.78% and a return on equity of 7.17%. The company had revenue of $6.71 million during the quarter, compared to the consensus estimate of $6.23 million.

Institutional Investors Weigh In On Coda Octopus Group

A number of institutional investors have recently made changes to their positions in CODA. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 1,562 shares in the last quarter. State Street Corp raised its position in Coda Octopus Group by 6.3% in the 4th quarter. State Street Corp now owns 33,903 shares of the company’s stock worth $315,000 after buying an additional 2,000 shares during the last quarter. Bank of America Corp DE lifted its stake in 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 acquiring an additional 3,066 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Coda Octopus Group by 50.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 15,000 shares of the company’s stock worth $140,000 after buying an additional 5,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Coda Octopus Group by 2.1% during the third quarter. Vanguard Group Inc. now owns 304,058 shares of the company’s stock valued at $2,440,000 after acquiring an additional 6,231 shares during the last quarter. Hedge funds and other institutional investors own 20.12% of the company’s stock.

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.