Coda Octopus Group Inc. (NASDAQ:CODA) Short Interest Up 30.2% in April

Key Points

• Short interest rose 30.2% in April to 201,678 shares, equal to about 2.3% of shares short and a short-interest ratio of 1.3 days based on average daily volume.
• Significant insider selling occurred: CFO Gayle Jardine sold 2,256 shares and major shareholder John S. Emerson sold 86,254 shares, leaving insiders with roughly 21.8% ownership.
• Coda Octopus reported an EPS beat ($0.08 vs. $0.06) and revenue of $6.71M versus $6.23M expected; the stock traded at $10.87 with a market cap of about $122.6M and a 52-week range of $5.98–$17.28.

Coda Octopus Group Inc. (NASDAQ:CODA - Get Free Report) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 201,678 shares, a growth of 30.2% from the March 31st total of 154,952 shares. Currently, 2.3% of the company's shares are short sold. Based on an average daily trading volume, of 156,634 shares, the short-interest ratio is presently 1.3 days.

Coda Octopus Group Stock Performance

Shares of Coda Octopus Group stock traded down $0.25 during trading hours on Wednesday, hitting $10.87. The company's stock had a trading volume of 58,955 shares, compared to its average volume of 250,246. The stock has a market cap of $122.58 million, a price-to-earnings ratio of 30.06 and a beta of 0.54. Coda Octopus Group has a twelve month low of $5.98 and a twelve month high of $17.28. The firm has a fifty day moving average of $12.93 and a 200-day moving average of $10.93.

Coda Octopus Group (NASDAQ:CODA - Get Free Report) last posted its quarterly earnings data on Tuesday, March 17th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. The firm had revenue of $6.71 million for the quarter, compared to the consensus estimate of $6.23 million. Coda Octopus Group had a return on equity of 7.17% and a net margin of 14.78%.

Insiders Place Their Bets

In other Coda Octopus Group news, CFO Gayle Michelle Jardine sold 2,256 shares of the business's stock in a transaction 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 transaction, the chief financial officer owned 2,500 shares of the company's stock, valued at approximately $31,475. The trade was a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder John Steven Emerson sold 86,254 shares of the business's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $14.95, for a total value of $1,289,497.30. Following the transaction, the insider directly owned 5,286 shares in the company, valued at $79,025.70. This trade represents a 94.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 21.80% of the company's stock.

Institutional Investors Weigh In On Coda Octopus Group

Institutional investors and hedge funds have recently modified their holdings of the company. Round Rock Advisors LLC purchased a new stake in shares of Coda Octopus Group in the 4th quarter valued at $514,000. Ritholtz Wealth Management purchased a new stake in shares of Coda Octopus Group in the 1st quarter valued at $167,000. Bank of America Corp DE raised its holdings in shares of Coda Octopus Group by 5,475.0% in the 3rd quarter. Bank of America Corp DE now owns 3,122 shares of the company's stock valued at $25,000 after buying an additional 3,066 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Coda Octopus Group in the 4th quarter valued at $104,000. Finally, Marshall Wace LLP purchased a new stake in shares of Coda Octopus Group in the 2nd quarter valued at $104,000. Hedge funds and other institutional investors own 20.12% of the company's stock.

Analyst Upgrades and Downgrades

CODA has been the topic of several recent analyst reports. Alliance Global Partners reaffirmed a "buy" rating on shares of Coda Octopus Group in a research note on Monday, February 9th. Wall Street Zen lowered Coda Octopus Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy".

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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