Coda Octopus Group Inc. (NASDAQ:CODA) Short Interest Update

Coda Octopus Group Inc. (NASDAQ:CODA) was the target of a large decline in short interest in December. As of December 15th, there was short interest totaling 57,888 shares, a decline of 20.1% from the November 30th total of 72,451 shares. Based on an average daily trading volume, of 48,448 shares, the short-interest ratio is presently 1.2 days. Currently, 0.7% of the shares of the company are sold short. Currently, 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 48,448 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Coda Octopus Group from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Coda Octopus Group in a research report on Monday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Insider Activity

In other news, major shareholder Niels Sondergaard sold 150,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 2,045,211 shares in the company, valued at approximately $16,668,469.65. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Coda Octopus Group

A number of hedge funds have recently added to or reduced their stakes in CODA. Bank of America Corp DE boosted its stake in Coda Octopus Group by 5,475.0% during the third 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 during the last quarter. Marshall Wace LLP purchased a new stake in shares of Coda Octopus Group during the 2nd quarter worth approximately $104,000. Corsair Capital Management L.P. purchased a new stake in shares of Coda Octopus Group during the 2nd quarter worth approximately $127,000. Jane Street Group LLC bought a new position in shares of Coda Octopus Group during the 2nd quarter valued at approximately $207,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Coda Octopus Group by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 61,561 shares of the company’s stock valued at $494,000 after purchasing an additional 1,562 shares in the last quarter. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

Coda Octopus Group Stock Performance

Shares of CODA traded up $0.02 during mid-day trading on Wednesday, reaching $9.30. The company had a trading volume of 73,796 shares, compared to its average volume of 50,676. The company has a market capitalization of $104.63 million, a price-to-earnings ratio of 31.00 and a beta of 0.61. The firm has a 50-day moving average price of $9.00 and a 200 day moving average price of $8.42. Coda Octopus Group has a 52 week low of $5.76 and a 52 week high of $10.54.

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.