Coda Octopus Group (NASDAQ:CODA) Stock Price Up 4.7% – Here’s Why

by · The Markets Daily

Coda Octopus Group, Inc. (NASDAQ:CODA – Get Free Report) was up 4.7% during trading on Wednesday . The stock traded as high as $6.32 and last traded at $6.24. Approximately 15,634 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 28,293 shares. The stock had previously closed at $5.96.

Coda Octopus Group Stock Up 1.5 %

The firm has a market capitalization of $70.08 million, a price-to-earnings ratio of 18.91 and a beta of 0.63. The stock’s fifty day moving average is $6.95 and its two-hundred day moving average is $7.90.

Coda Octopus Group (NASDAQ:CODA – Get Free Report) last posted its quarterly earnings data on Monday, March 17th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. The firm had revenue of $5.21 million for the quarter, compared to analysts’ expectations of $6.35 million. Coda Octopus Group had a return on equity of 7.04% and a net margin of 17.95%.

Institutional Investors Weigh In On Coda Octopus Group

Several hedge funds and other institutional investors have recently made changes to their positions in CODA. Wealthquest Corp bought a new position in Coda Octopus Group during the third quarter worth $108,000. Essex Investment Management Co. LLC purchased a new stake in shares of Coda Octopus Group during the 4th quarter valued at $114,000. Geode Capital Management LLC grew its holdings in Coda Octopus Group by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 59,424 shares of the company’s stock valued at $465,000 after purchasing an additional 2,054 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Coda Octopus Group by 137.2% during the 4th quarter. Renaissance Technologies LLC now owns 23,751 shares of the company’s stock valued at $186,000 after buying an additional 13,737 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Coda Octopus Group by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 59,999 shares of the company’s stock valued at $470,000 after purchasing an additional 2,180 shares in the last quarter. 20.12% of the stock is owned by institutional investors.

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.

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