Coda Octopus Group's (CODA) Hold (C+) Rating Reaffirmed at Weiss Ratings

Key Points

• Coda Octopus Group (NASDAQ: CODA) received a "hold (C+)" rating reaffirmed by Weiss Ratings, while other analysts have given a mixed bag of ratings including a "buy" from Alliance Global Partners.
• The company's stock is currently trading at $9.05, with a market capitalization of approximately $101.78 million and a 12-month trading range between $5.76 and $9.89.
• In the latest quarterly earnings, Coda Octopus Group reported an EPS of $0.11, exceeding the consensus estimate, with revenue matching the expected $7.07 million.

Coda Octopus Group (NASDAQ:CODA - Get Free Report)'s stock had its "hold (c+)" rating restated by investment analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

Several other analysts have also recently issued reports on the company. Alliance Global Partners reiterated a "buy" rating on shares of Coda Octopus Group in a research report on Monday, June 16th. Wall Street Zen upgraded Coda Octopus Group from a "hold" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Coda Octopus Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.00.

Coda Octopus Group Stock Performance

Shares of NASDAQ CODA traded up $0.19 during trading on Tuesday, hitting $9.05. The company had a trading volume of 56,588 shares, compared to its average volume of 44,987. The stock has a 50 day simple moving average of $8.04 and a 200 day simple moving average of $7.45. Coda Octopus Group has a 12 month low of $5.76 and a 12 month high of $9.89. The firm has a market capitalization of $101.78 million, a P/E ratio of 29.92 and a beta of 0.53.

Coda Octopus Group (NASDAQ:CODA - Get Free Report) last posted its quarterly earnings data on Monday, September 15th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Coda Octopus Group had a return on equity of 6.26% and a net margin of 14.09%.The firm had revenue of $7.07 million for the quarter, compared to the consensus estimate of $7.07 million.

Insider Buying and Selling at Coda Octopus Group

In other Coda Octopus Group news, major shareholder Niels Sondergaard sold 150,000 shares of the company's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $8.15, for a total value of $1,222,500.00. Following the completion of the sale, the insider directly owned 2,045,211 shares in the company, valued at approximately $16,668,469.65. This represents a 6.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 206,370 shares of company stock valued at $1,685,214. 21.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coda Octopus Group

Hedge funds have recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in shares of Coda Octopus Group in the 2nd quarter worth $104,000. Corsair Capital Management L.P. bought a new position in shares of Coda Octopus Group in the 2nd quarter worth $127,000. Jane Street Group LLC bought a new position in shares of Coda Octopus Group in the 2nd quarter worth $207,000. Finally, Osaic Holdings Inc. raised its position in shares of Coda Octopus Group by 18.6% in the 2nd quarter. Osaic Holdings Inc. now owns 79,434 shares of the company's stock worth $650,000 after acquiring an additional 12,433 shares in the last quarter. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

Coda Octopus Group Company Profile

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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