Coda Octopus Group Inc. (NASDAQ:CODA) Short Interest Down 25.1% in March

Key Points

• Short interest dropped 25.1% in March to 154,952 shares (about 1.8% of the stock), leaving a short-interest ratio of just 0.6 days — signaling low short pressure.
• CFO Gayle Michelle Jardine sold 2,256 shares on March 19 at $12.59 (a 47.4% cut to her position), though corporate insiders still hold 21.8% of the company.
• Coda Octopus beat quarterly estimates with EPS of $0.08 versus $0.06 and revenue of $6.71M versus $6.23M, and the stock carries a consensus rating of Moderate Buy.

Coda Octopus Group Inc. (NASDAQ:CODA - Get Free Report) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 154,952 shares, a decline of 25.1% from the March 15th total of 206,823 shares. Approximately 1.8% of the company's stock are short sold. Based on an average daily volume of 263,888 shares, the short-interest ratio is currently 0.6 days.

Analyst Upgrades and Downgrades

CODA has been the subject of several recent research reports. Alliance Global Partners reiterated a "buy" rating on shares of Coda Octopus Group in a report on Monday, February 9th. Wall Street Zen cut Coda Octopus Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Coda Octopus Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Insider Buying and Selling

In other Coda Octopus Group news, CFO Gayle Michelle Jardine sold 2,256 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $12.59, for a total transaction of $28,403.04. Following the completion of the sale, the chief financial officer directly owned 2,500 shares of the company's stock, valued at approximately $31,475. The trade was a 47.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in shares of 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. Marshall Wace LLP bought a new stake in shares of Coda Octopus Group in the 2nd quarter worth approximately $104,000. Quadrature Capital Ltd purchased a new position in Coda Octopus Group in the fourth quarter valued at approximately $104,000. Trexquant Investment LP purchased a new position in Coda Octopus Group in the fourth quarter valued at approximately $106,000. Finally, Jane Street Group LLC bought a new position in Coda Octopus Group during the fourth quarter valued at $122,000. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

Coda Octopus Group Trading Up 0.9%

Shares of CODA stock traded up $0.11 during trading on Wednesday, hitting $13.01. The company's stock had a trading volume of 111,729 shares, compared to its average volume of 262,636. The company has a market cap of $146.75 million, a PE ratio of 36.14 and a beta of 0.54. The business has a fifty day moving average of $12.94 and a 200-day moving average of $10.67. Coda Octopus Group has a 52 week low of $5.97 and a 52 week high of $17.28.

Coda Octopus Group (NASDAQ:CODA - Get Free Report) last issued its quarterly earnings results on Tuesday, March 17th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The business had revenue of $6.71 million for the quarter, compared to analyst estimates of $6.23 million. Coda Octopus Group had a return on equity of 7.17% and a net margin of 14.78%.

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.

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