Coda Octopus Group (NASDAQ:CODA) Announces Quarterly Earnings Results

Key Points

• Coda Octopus Group met earnings expectations, reporting quarterly EPS of $0.12, while revenue of $7.72 million exceeded analysts’ $7.26 million forecast.
• Shares opened at $10.02, with the stock valued at approximately $113 million and trading well below its 12-month high of $17.28.
• Analyst sentiment remains moderately positive: two analysts rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of $14.00.

Coda Octopus Group (NASDAQ:CODA - Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12, FiscalAI reports. Coda Octopus Group had a return on equity of 8.33% and a net margin of 17.66%.The business had revenue of $7.72 million for the quarter, compared to analysts' expectations of $7.26 million.

Coda Octopus Group Price Performance

Shares of NASDAQ:CODA opened at $10.02 on Monday. The firm has a market capitalization of $113.03 million, a PE ratio of 23.30 and a beta of 0.60. The company has a 50-day moving average price of $10.09 and a two-hundred day moving average price of $11.33. Coda Octopus Group has a twelve month low of $7.80 and a twelve month high of $17.28.

Institutional Trading of Coda Octopus Group

A number of institutional investors have recently modified their holdings of CODA. Bank of America Corp DE grew its stake in 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 in the last quarter. Marshall Wace LLP bought a new position in shares of Coda Octopus Group in the second quarter worth $104,000. Quadrature Capital Ltd purchased a new position in shares of Coda Octopus Group in the fourth quarter valued at $104,000. Trexquant Investment LP bought a new stake in shares of Coda Octopus Group during the 4th quarter valued at $106,000. Finally, Jane Street Group LLC purchased a new stake in Coda Octopus Group during the 4th quarter worth about $122,000. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CODA. UBS Group upgraded shares of Coda Octopus Group to a "buy" rating in a research report on Thursday, June 18th. Weiss Ratings restated a "hold (c)" rating on shares of Coda Octopus Group in a research note on Tuesday, September 1st. Finally, Wall Street Zen cut shares of Coda Octopus Group from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Coda Octopus Group has an average rating of "Moderate Buy" and an average price target of $14.00.

About Coda Octopus Group

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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