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

by · The Cerbat Gem

Coda Octopus Group (NASDAQ:CODA – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

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

Get Our Latest Research Report on CODA

Coda Octopus Group Stock Up 12.6%

NASDAQ:CODA opened at $8.76 on Friday. Coda Octopus Group has a twelve month low of $5.76 and a twelve month high of $9.89. The business has a 50 day moving average price of $7.82 and a two-hundred day moving average price of $7.20. The company has a market cap of $98.55 million, a P/E ratio of 29.20 and a beta of 0.60.

Coda Octopus Group (NASDAQ:CODA – Get Free Report) last released its quarterly earnings results on Monday, June 16th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The firm had revenue of $7.02 million during the quarter, compared to the consensus estimate 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP bought a new position in shares of Coda Octopus Group during the 2nd quarter worth approximately $104,000. Corsair Capital Management L.P. bought a new position 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 worth approximately $207,000. Northern Trust Corp boosted its stake in shares of 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 acquiring an additional 13,442 shares during the period. Finally, Citadel Advisors LLC boosted its stake in Coda Octopus Group by 90.1% in the 4th quarter. Citadel Advisors LLC now owns 50,804 shares of the company’s stock valued at $398,000 after purchasing an additional 24,084 shares during the period. 20.12% of the stock is currently owned by institutional investors.

Coda Octopus Group Company Profile

(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.

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