Coda Octopus Group Inc. (NASDAQ:CODA) Short Interest Up 30.2% in April

Coda Octopus Group Inc. (NASDAQ:CODA) was the target of a large increase in short interest in April. As of April 15th, there was short interest totaling 201,678 shares, an increase of 30.2% from the March 31st total of 154,952 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average daily trading volume, of 156,634 shares, the days-to-cover ratio is presently 1.3 days.

Insiders Place Their Bets

In other news, CFO Gayle Michelle Jardine sold 2,256 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $12.59, for a total transaction of $28,403.04. Following the sale, the chief financial officer owned 2,500 shares in the company, valued at approximately $31,475. This represents a 47.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder John Steven Emerson sold 86,254 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $14.95, for a total transaction of $1,289,497.30. Following the completion of the sale, the insider directly owned 5,286 shares of the company’s stock, valued at approximately $79,025.70. This represents a 94.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 21.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coda Octopus Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of 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 during the period. Marshall Wace LLP lifted its position in shares of Coda Octopus Group by 79.6% in the 4th 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. Archon Capital Management LLC bought a new position in Coda Octopus Group during the fourth quarter worth $1,395,000. Dimensional Fund Advisors LP boosted its position in Coda Octopus Group by 29.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 79,802 shares of the company’s stock valued at $742,000 after acquiring an additional 18,241 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of 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 during the period. Institutional investors own 20.12% of the company’s stock.

Coda Octopus Group Stock Performance

CODA stock traded up $0.28 during trading on Friday, hitting $11.59. 10,860 shares of the company’s stock traded hands, compared to its average volume of 246,361. Coda Octopus Group has a 52 week low of $5.98 and a 52 week high of $17.28. The stock has a market capitalization of $130.74 million, a price-to-earnings ratio of 32.19 and a beta of 0.54. The business has a fifty day simple moving average of $12.85 and a 200 day simple moving average of $10.93.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CODA shares. Alliance Global Partners reiterated a “buy” rating on shares of Coda Octopus Group in a research note on Monday, February 9th. Wall Street Zen downgraded shares of Coda Octopus Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Coda Octopus Group presently has an average rating of “Moderate Buy”.

About Coda Octopus Group

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.