Sei Investments Co. Buys 102,592 Shares of Coda Octopus Group Inc. $CODA

Sei Investments Co. boosted its stake in Coda Octopus Group Inc. (NASDAQ:CODA) by 228.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,486 shares of the company’s stock after purchasing an additional 102,592 shares during the period. Sei Investments Co.’s holdings in Coda Octopus Group were worth $1,667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of 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 worth $25,000 after buying an additional 3,066 shares during the period. Marshall Wace LLP purchased a new stake in Coda Octopus Group during the 2nd quarter valued at $104,000. Quadrature Capital Ltd bought a new stake in Coda Octopus Group in the 4th quarter worth $104,000. Trexquant Investment LP purchased a new position in shares of Coda Octopus Group in the fourth quarter valued at about $106,000. Finally, Jane Street Group LLC purchased a new position in shares of Coda Octopus Group in the fourth quarter valued at about $122,000. Institutional investors own 20.12% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Coda Octopus Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. UBS Group upgraded Coda Octopus Group to a “buy” rating in a report on Thursday, June 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coda Octopus Group in a report on Thursday, June 4th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Coda Octopus Group has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Coda Octopus Group Price Performance

Shares of CODA opened at $10.40 on Tuesday. Coda Octopus Group Inc. has a one year low of $7.01 and a one year high of $17.28. The company has a 50-day simple moving average of $10.23 and a two-hundred day simple moving average of $11.62. The firm has a market capitalization of $117.31 million, a PE ratio of 24.19 and a beta of 0.60.

Coda Octopus Group (NASDAQ:CODA) last posted its quarterly earnings data on Monday, June 15th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. Coda Octopus Group had a return on equity of 8.33% and a net margin of 17.66%.The business had revenue of $6.90 million for the quarter, compared to analysts’ expectations of $7.52 million.

Coda Octopus Group 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.