Coda Octopus Group (NASDAQ:CODA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Coda Octopus Group (NASDAQ:CODA) from a hold rating to a buy rating in a report issued on Saturday.

CODA has been the subject of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Coda Octopus Group in a research report on Saturday, September 27th. Alliance Global Partners reaffirmed a “buy” rating on shares of Coda Octopus Group in a research note on Monday, June 16th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Coda Octopus Group Price Performance

Shares of NASDAQ CODA opened at $8.86 on Friday. Coda Octopus Group has a 1 year low of $5.76 and a 1 year high of $9.89. The firm has a 50-day simple moving average of $8.04 and a two-hundred day simple moving average of $7.45. The company has a market cap of $99.68 million, a P/E ratio of 29.53 and a beta of 0.53.

Coda Octopus Group (NASDAQ:CODA) last issued its quarterly earnings results on Monday, September 15th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Coda Octopus Group had a return on equity of 6.26% and a net margin of 14.09%.The firm had revenue of $7.07 million for the quarter, compared to the consensus estimate of $7.07 million.

Insider Activity

In other news, major shareholder Niels Sondergaard sold 150,000 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $8.15, for a total transaction of $1,222,500.00. Following the completion of the sale, the insider owned 2,045,211 shares in the company, valued at approximately $16,668,469.65. This represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 206,370 shares of company stock worth $1,685,214 over the last 90 days. Corporate insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Coda Octopus Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in shares of Coda Octopus Group during the second quarter worth about $207,000. Corsair Capital Management L.P. acquired a new stake in Coda Octopus Group in the 2nd quarter worth approximately $127,000. Marshall Wace LLP purchased a new stake in Coda Octopus Group during the 2nd quarter worth approximately $104,000. Finally, Osaic Holdings Inc. increased its stake in Coda Octopus Group by 18.6% during the 2nd quarter. Osaic Holdings Inc. now owns 79,434 shares of the company’s stock valued at $650,000 after purchasing an additional 12,433 shares in the last quarter. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

Coda Octopus Group Company Profile

Coda Octopus Group, Inc, together with its subsidiaries, develops, sells, and rentals underwater technologies and equipment for real time 3D imaging, mapping, defense, and survey applications in the Americas, Europe, Australia, Asia, the Middle East, and Africa. The company operates through two segments, Marine Engineering Business and Marine Technology Business.