Coda Octopus Group (NASDAQ:CODA) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Coda Octopus Group (NASDAQ:CODA - Free Report) to a hold rating in a report released on Saturday.

Coda Octopus Group Price Performance

Shares of NASDAQ CODA traded down $0.52 during trading on Friday, reaching $7.38. 94,818 shares of the stock traded hands, compared to its average volume of 34,279. The stock has a market capitalization of $82.88 million, a P/E ratio of 24.60 and a beta of 0.66. Coda Octopus Group has a 52-week low of $5.76 and a 52-week high of $9.89. The company has a 50-day moving average of $6.79 and a 200-day moving average of $7.37.

Coda Octopus Group (NASDAQ:CODA - Get Free Report) last announced its quarterly earnings data on Monday, June 16th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.05. Coda Octopus Group had a return on equity of 6.46% and a net margin of 15.04%. The business had revenue of $7.02 million for the quarter, compared to analysts' expectations of $6.16 million.

Institutional Investors Weigh In On Coda Octopus Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp raised its stake in shares of Coda Octopus Group by 52.9% during the 4th quarter. Northern Trust Corp now owns 38,833 shares of the company's stock valued at $304,000 after purchasing an additional 13,442 shares during the period. Citadel Advisors LLC raised its stake in shares of Coda Octopus Group by 90.1% during the 4th quarter. Citadel Advisors LLC now owns 50,804 shares of the company's stock valued at $398,000 after purchasing an additional 24,084 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Coda Octopus Group by 3.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 59,999 shares of the company's stock valued at $470,000 after buying an additional 2,180 shares during the period. Geode Capital Management LLC increased its position in shares of Coda Octopus Group by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 59,424 shares of the company's stock valued at $465,000 after buying an additional 2,054 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Coda Octopus Group by 137.2% during the fourth quarter. Renaissance Technologies LLC now owns 23,751 shares of the company's stock valued at $186,000 after buying an additional 13,737 shares during the period. Institutional investors own 20.12% of the company's stock.

About Coda Octopus Group

Coda Octopus Group, Inc, together with its subsidiaries, develops, sells, and rentals underwater technologies and equipment for real time 3D imaging, mapping, defense, and survey applications in the Americas, Europe, Australia, Asia, the Middle East, and Africa. The company operates through two segments, Marine Engineering Business and Marine Technology Business.