Coda Octopus Group (NASDAQ:CODA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Coda Octopus Group (NASDAQ:CODA) from a hold rating to a buy rating in a research note released on Saturday morning.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coda Octopus Group in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Coda Octopus Group Trading Up 1.9%

Shares of NASDAQ CODA opened at $8.75 on Friday. The stock has a market cap of $98.44 million, a PE ratio of 29.17 and a beta of 0.61. Coda Octopus Group has a 12-month low of $5.76 and a 12-month high of $10.54. The company has a 50-day moving average of $8.96 and a 200 day moving average of $8.17.

Coda Octopus Group (NASDAQ:CODA) last issued its earnings results on Monday, September 15th. The company reported $0.11 earnings per share 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 business had revenue of $7.06 million for the quarter, compared to analysts’ expectations of $7.07 million.

Insider Transactions 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 dated Thursday, October 2nd. The shares were sold at an average price of $8.15, for a total value of $1,222,500.00. Following the transaction, the insider owned 2,045,211 shares of the company’s stock, valued at $16,668,469.65. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 206,370 shares of company stock valued at $1,685,214. 21.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coda Octopus Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Coda Octopus Group by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 61,561 shares of the company’s stock worth $494,000 after purchasing an additional 1,562 shares during the period. Bank of America Corp DE raised its position in Coda Octopus Group by 5,475.0% in the third quarter. Bank of America Corp DE now owns 3,122 shares of the company’s stock valued at $25,000 after purchasing an additional 3,066 shares during the period. Vanguard Group Inc. lifted its stake in Coda Octopus Group by 2.1% during the third quarter. Vanguard Group Inc. now owns 304,058 shares of the company’s stock worth $2,440,000 after purchasing an additional 6,231 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Coda Octopus Group by 18.6% during 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, Marshall Wace LLP purchased a new position in shares of Coda Octopus Group during the second quarter worth $104,000. 20.12% of the stock is owned by hedge funds and other institutional investors.

About Coda Octopus Group

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.