Niels Sondergaard Sells 7,013 Shares of Coda Octopus Group (NASDAQ:CODA) Stock

Key Points

• Niels Sondergaard, a major shareholder in Coda Octopus Group, sold 7,013 shares at an average price of $8.13, resulting in a transaction totaling $57,015.69.
• Coda Octopus Group's stock is currently trading at $8.07, down 1.9% from the previous trading day, with a market cap of $90.79 million.
• The company reported $0.11 earnings per share for the last quarter, exceeding analysts' expectations of $0.09.

Coda Octopus Group Inc. (NASDAQ:CODA - Get Free Report) major shareholder Niels Sondergaard sold 7,013 shares of the company's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $8.13, for a total transaction of $57,015.69. Following the transaction, the insider owned 2,195,211 shares in the company, valued at $17,847,065.43. The trade was a 0.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Niels Sondergaard also recently made the following trade(s):

• On Monday, September 22nd, Niels Sondergaard sold 16,995 shares of Coda Octopus Group stock. The stock was sold at an average price of $8.20, for a total transaction of $139,359.00.
• On Friday, September 19th, Niels Sondergaard sold 32,362 shares of Coda Octopus Group stock. The stock was sold at an average price of $8.23, for a total transaction of $266,339.26.

Coda Octopus Group Stock Down 1.9%

Shares of NASDAQ:CODA traded down $0.16 during midday trading on Tuesday, reaching $8.07. The company's stock had a trading volume of 38,277 shares, compared to its average volume of 42,481. The firm has a market capitalization of $90.79 million, a PE ratio of 26.90 and a beta of 0.60. Coda Octopus Group Inc. has a twelve month low of $5.76 and a twelve month high of $9.89. The stock has a fifty day moving average of $7.82 and a 200 day moving average of $7.24.

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

Analyst Ratings Changes

Several equities analysts have issued reports on CODA shares. Alliance Global Partners reaffirmed a "buy" rating on shares of Coda Octopus Group in a report on Monday, June 16th. Wall Street Zen downgraded shares of Coda Octopus Group from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Coda Octopus Group has a consensus rating of "Buy" and a consensus target price of $11.00.

Institutional Investors Weigh In On Coda Octopus Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in Coda Octopus Group by 18.6% in the 2nd quarter. Osaic Holdings Inc. now owns 79,434 shares of the company's stock valued at $650,000 after purchasing an additional 12,433 shares in the last quarter. Citadel Advisors LLC lifted its holdings in Coda Octopus Group by 90.1% in the 4th quarter. Citadel Advisors LLC now owns 50,804 shares of the company's stock valued at $398,000 after purchasing an additional 24,084 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Coda Octopus Group by 52.9% during the 4th quarter. Northern Trust Corp now owns 38,833 shares of the company's stock worth $304,000 after acquiring an additional 13,442 shares during the period. Jane Street Group LLC purchased a new position in shares of Coda Octopus Group during the 2nd quarter worth about $207,000. Finally, Corsair Capital Management L.P. purchased a new position in shares of Coda Octopus Group during the 2nd quarter worth about $127,000. 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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