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

Codan Limited (OTCMKTS:CODAF) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 1,402 shares, an increase of 318.5% from the August 31st total of 335 shares. Based on an average daily volume of 0 shares, the short-interest ratio is presently ∞ days.

Codan Price Performance

OTCMKTS CODAF remained flat at C$23.61 on Friday. Codan has a fifty-two week low of C$18.44 and a fifty-two week high of C$27.69. The company’s 50 day simple moving average is C$23.61 and its two-hundred day simple moving average is C$23.76.

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.