Codan Limited (OTCMKTS:CODAF) Sees Large Growth in Short Interest

Codan Limited (OTCMKTS:CODAF) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 16,435 shares, a growth of 56.2% from the February 26th total of 10,522 shares. Based on an average daily trading volume, of 20 shares, the short-interest ratio is presently 821.8 days.

Codan Stock Performance

Shares of OTCMKTS CODAF remained flat at C$23.61 during midday trading on Friday. The stock’s 50-day moving average is C$26.13 and its 200-day moving average is C$23.29. Codan has a one year low of C$18.44 and a one year high of C$27.69.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group set a $38.50 price objective on Codan in a research note on Sunday, February 22nd.

Codan Company Profile

Codan Limited (OTCMKTS:CODAF) is an Australian technology company specializing in the design and manufacture of communications and detection equipment. Headquartered in Adelaide, South Australia, Codan operates through two primary business segments—detection and communications—providing hardware, software and turn-key solutions to commercial, government and humanitarian customers worldwide.

In its detection segment, Codan markets metal-detection products under the Minelab brand. These detectors serve a range of applications including gold prospecting, security screening, landmine and ordinance clearance, and archaeological exploration.