Codan Limited (OTCMKTS:CODAF) Stock Short Interest Declines 43.9%

Codan Limited (OTCMKTS:CODAF) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totaling 787 shares, a decrease of 43.9% from the September 15th total of 1,402 shares. Based on an average daily trading volume, of 0 shares, the days-to-cover ratio is currently ∞ days.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group initiated coverage on Codan in a research note on Tuesday, September 29th. They issued a “buy” rating and a $75.00 price objective on the stock. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Codan Stock Performance

CODAF stock opened at C$47.58 on Friday. Codan has a 52 week low of C$18.44 and a 52 week high of C$47.58. The company has a fifty day simple moving average of C$28.88 and a two-hundred day simple moving average of C$25.47.

About Codan

Codan Limited is an Australian technology company that develops communications and metal-detection products for customers worldwide. Founded in 1959 and headquartered in Adelaide, South Australia, the company serves government, military, humanitarian, mining, security and consumer markets.

Its communications business designs and supplies high-frequency, very-high-frequency and ultra-high-frequency radio systems, along with related networking, tracking and communications equipment. These products are used where reliable communications are required in remote or infrastructure-limited environments, including public safety, defense, mining and emergency response applications.

Codan also develops metal-detection technologies through its Minelab business, which produces consumer and specialist detectors for gold prospecting, treasure hunting, security screening and demining.