Sei Investments Co. Purchases 102,592 Shares of Coda Octopus Group Inc. $CODA

Key Points

• Sei Investments increased its Coda Octopus Group position by 228.5% in the first quarter, acquiring 102,592 additional shares for a total of 147,486 shares valued at approximately $1.67 million. Institutional investors collectively own 20.12% of the company.
• Analyst sentiment is moderately positive: two analysts rate CODA a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating with a $14.00 price target.
• Coda reported quarterly EPS of $0.15, beating estimates of $0.13, although revenue of $6.90 million fell short of the $7.52 million consensus forecast. Shares opened at $10.40, compared with a 52-week range of $7.01 to $17.28.

Sei Investments Co. boosted its position in shares of Coda Octopus Group Inc. (NASDAQ:CODA - Free Report) by 228.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,486 shares of the company's stock after acquiring an additional 102,592 shares during the period. Sei Investments Co. owned 1.31% of Coda Octopus Group worth $1,667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Archon Capital Management LLC bought a new position in Coda Octopus Group in the 4th quarter valued at $1,395,000. Informed Momentum Co LLC bought a new position in shares of Coda Octopus Group in the fourth quarter worth $686,000. Marshall Wace LLP increased its holdings in shares of Coda Octopus Group by 79.6% in the fourth quarter. Marshall Wace LLP now owns 158,232 shares of the company's stock worth $1,472,000 after purchasing an additional 70,146 shares during the period. Rothschild Wealth LLC purchased a new stake in shares of Coda Octopus Group in the fourth quarter worth $625,000. Finally, Round Rock Advisors LLC purchased a new stake in shares of Coda Octopus Group in the fourth quarter worth $514,000. Institutional investors own 20.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wall Street Zen cut Coda Octopus Group from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. UBS Group upgraded Coda Octopus Group to a "buy" rating in a research report on Thursday, June 18th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Coda Octopus Group in a report on Thursday, June 4th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Coda Octopus Group Stock Performance

Shares of CODA opened at $10.40 on Tuesday. Coda Octopus Group Inc. has a fifty-two week low of $7.01 and a fifty-two week high of $17.28. The firm has a market cap of $117.31 million, a price-to-earnings ratio of 24.19 and a beta of 0.60. The firm has a 50 day moving average price of $10.23 and a 200-day moving average price of $11.62.

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

Coda Octopus Group Company 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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