Short Interest in Coda Octopus Group Inc. (NASDAQ:CODA) Increases By 185.0%

Coda Octopus Group Inc. (NASDAQ:CODA) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 206,823 shares, an increase of 185.0% from the February 26th total of 72,570 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average daily trading volume, of 588,337 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 588,337 shares, the short-interest ratio is currently 0.4 days. Currently, 2.3% of the company’s shares are short sold.

Coda Octopus Group Trading Down 0.3%

Shares of CODA opened at $11.90 on Wednesday. The stock has a 50 day moving average of $12.64 and a 200 day moving average of $10.27. The company has a market capitalization of $134.25 million, a price-to-earnings ratio of 33.01 and a beta of 0.51. Coda Octopus Group has a 12 month low of $5.76 and a 12 month high of $17.28.

Coda Octopus Group (NASDAQ:CODA) last posted its quarterly earnings data on Tuesday, March 17th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $6.71 million for the quarter, compared to analysts’ expectations of $6.23 million. Coda Octopus Group had a return on equity of 7.17% and a net margin of 14.78%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Coda Octopus Group in a report on Monday, December 29th. Wall Street Zen downgraded Coda Octopus Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Finally, Alliance Global Partners restated a “buy” rating on shares of Coda Octopus Group in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Coda Octopus Group

Several institutional investors have recently added to or reduced their stakes in CODA. Archon Capital Management LLC bought a new stake in shares of Coda Octopus Group in the fourth quarter valued at approximately $1,395,000. Informed Momentum Co LLC bought a new position in Coda Octopus Group in the 4th quarter worth approximately $686,000. Marshall Wace LLP grew its stake in Coda Octopus Group by 79.6% in the 4th quarter. Marshall Wace LLP now owns 158,232 shares of the company’s stock valued at $1,472,000 after buying an additional 70,146 shares in the last quarter. Rothschild Wealth LLC purchased a new position in Coda Octopus Group in the 4th quarter valued at approximately $625,000. Finally, Round Rock Advisors LLC bought a new stake in Coda Octopus Group during the 4th quarter valued at $514,000. Institutional investors own 20.12% of the company’s stock.

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.