Arrowstreet Capital Limited Partnership Acquires New Holdings in Coda Octopus Group Inc. $CODA

Key Points

• Arrowstreet Capital acquired 99,560 shares of Coda Octopus Group during the first quarter, valued at approximately $1.125 million and representing about 0.88% of the company. Institutional and hedge-fund investors collectively own 20.12% of CODA.
• Analyst sentiment is generally positive, with two Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $14.00.
• Coda Octopus reported quarterly earnings of $0.15 per share, exceeding estimates of $0.13, although revenue of $6.90 million fell short of the $7.52 million consensus estimate. Shares opened at $10.53, with a 12-month range of $7.01 to $17.28.

Arrowstreet Capital Limited Partnership purchased a new position in Coda Octopus Group Inc. (NASDAQ:CODA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 99,560 shares of the company's stock, valued at approximately $1,125,000. Arrowstreet Capital Limited Partnership owned about 0.88% of Coda Octopus Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Round Rock Advisors LLC bought a new stake in Coda Octopus Group during the fourth quarter valued at about $514,000. Dimensional Fund Advisors LP increased its position in Coda Octopus Group by 29.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 79,802 shares of the company's stock worth $742,000 after buying an additional 18,241 shares in the last quarter. Informed Momentum Co LLC bought a new position in shares of Coda Octopus Group in the fourth quarter worth about $686,000. Osaic Holdings Inc. raised its stake in shares of 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 buying an additional 12,433 shares during the period. Finally, Rothschild Wealth LLC purchased a new position in shares of Coda Octopus Group during the 4th quarter valued at about $625,000. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group upgraded shares of Coda Octopus Group to a "buy" rating in a research report on Thursday, June 18th. Wall Street Zen downgraded shares of Coda Octopus Group from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Coda Octopus Group in a research note on Thursday, June 4th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Coda Octopus Group has an average rating of "Moderate Buy" and an average target price of $14.00.

Coda Octopus Group Trading Up 1.9%

Shares of NASDAQ:CODA opened at $10.53 on Friday. Coda Octopus Group Inc. has a 12 month low of $7.01 and a 12 month high of $17.28. The company has a market capitalization of $118.78 million, a price-to-earnings ratio of 24.49 and a beta of 0.60. The firm's 50-day moving average is $10.33 and its 200 day moving average is $11.63.

Coda Octopus Group (NASDAQ:CODA - Get Free Report) last released its earnings results on Monday, June 15th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. Coda Octopus Group had a return on equity of 8.33% and a net margin of 17.66%.The business had revenue of $6.90 million during the quarter, compared to the consensus estimate of $7.52 million.

Coda Octopus Group 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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