Coda Octopus Group (NASDAQ:CODA - Get Free Report) announced its earnings results on Monday. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02, Zacks reports. The company had revenue of $7.07 million for the quarter, compared to analysts' expectations of $7.07 million. Coda Octopus Group had a return on equity of 6.26% and a net margin of 14.09%.
Coda Octopus Group Stock Performance
Shares of CODA traded down $0.04 during mid-day trading on Friday, reaching $8.22. 40,345 shares of the company were exchanged, compared to its average volume of 42,090. Coda Octopus Group has a 52 week low of $5.76 and a 52 week high of $9.89. The stock has a market capitalization of $92.49 million, a PE ratio of 27.40 and a beta of 0.60. The business has a 50 day simple moving average of $7.82 and a two-hundred day simple moving average of $7.22.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Alliance Global Partners reissued a "buy" rating on shares of Coda Octopus Group in a report on Monday, June 16th. Wall Street Zen cut Coda Octopus Group from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $11.00.
Check Out Our Latest Stock Analysis on CODA
Institutional Investors Weigh In On Coda Octopus Group
A number of hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its holdings in Coda Octopus Group by 18.6% in the second quarter. Osaic Holdings Inc. now owns 79,434 shares of the company's stock worth $650,000 after purchasing an additional 12,433 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Coda Octopus Group during the second quarter valued at approximately $207,000. Finally, Marshall Wace LLP bought a new stake in shares of Coda Octopus Group during the second quarter valued at approximately $104,000. 20.12% of the stock is currently owned by institutional investors.
About Coda Octopus Group
(
Get Free Report)
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.
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