Coda Octopus Group (NASDAQ:CODA) Cut to “Hold” at Wall Street Zen

by · The Markets Daily

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

Separately, Alliance Global Partners reaffirmed a “buy” rating on shares of Coda Octopus Group in a report on Monday, June 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coda Octopus Group has an average rating of “Buy” and a consensus price target of $11.00.

Read Our Latest Stock Report on Coda Octopus Group

Coda Octopus Group Trading Down 7.1%

Shares of CODA stock opened at $8.14 on Friday. Coda Octopus Group has a 12 month low of $5.76 and a 12 month high of $9.89. The company has a market capitalization of $91.57 million, a P/E ratio of 27.13 and a beta of 0.60. The stock has a 50 day moving average of $7.82 and a two-hundred day moving average of $7.20.

Coda Octopus Group (NASDAQ:CODA – Get Free Report) last issued its earnings results on Monday, June 16th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $7.02 million during the quarter, compared to analyst estimates of $6.16 million. Coda Octopus Group had a return on equity of 6.37% and a net margin of 15.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Northern Trust Corp lifted its position in Coda Octopus Group by 52.9% during the 4th quarter. Northern Trust Corp now owns 38,833 shares of the company’s stock worth $304,000 after buying an additional 13,442 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Coda Octopus Group by 90.1% in the fourth quarter. Citadel Advisors LLC now owns 50,804 shares of the company’s stock worth $398,000 after acquiring an additional 24,084 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Coda Octopus Group by 3.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 59,999 shares of the company’s stock worth $470,000 after purchasing an additional 2,180 shares in the last quarter. Osaic Holdings Inc. lifted 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 purchasing an additional 12,433 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Coda Octopus Group during the second quarter valued at approximately $207,000. Institutional investors own 20.12% of the company’s stock.

About Coda Octopus Group

(Get Free Report)

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.

Featured Stories