Coda Octopus Group (NASDAQ:CODA) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Coda Octopus Group (NASDAQ:CODA) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Coda Octopus Group in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Coda Octopus Group Trading Down 2.0%

Shares of CODA stock opened at $7.99 on Friday. The firm has a fifty day simple moving average of $8.85 and a two-hundred day simple moving average of $7.97. Coda Octopus Group has a 12 month low of $5.76 and a 12 month high of $10.54. The firm has a market capitalization of $89.88 million, a PE ratio of 26.63 and a beta of 0.55.

Coda Octopus Group (NASDAQ:CODA) last issued its quarterly earnings data on Monday, September 15th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $7.06 million during the quarter, compared to analysts’ expectations of $7.07 million. Coda Octopus Group had a net margin of 14.09% and a return on equity of 6.26%.

Insider Buying and Selling

In other Coda Octopus Group news, major shareholder Niels Sondergaard sold 150,000 shares of Coda Octopus Group stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $8.15, for a total transaction of $1,222,500.00. Following the transaction, the insider owned 2,045,211 shares of the company’s stock, valued at $16,668,469.65. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 206,370 shares of company stock valued at $1,685,214. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Coda Octopus Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in Coda Octopus Group by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 61,561 shares of the company’s stock worth $494,000 after purchasing an additional 1,562 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Coda Octopus Group by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 304,058 shares of the company’s stock worth $2,440,000 after buying an additional 6,231 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of Coda Octopus Group by 18.6% during the 2nd quarter. Osaic Holdings Inc. now owns 79,434 shares of the company’s stock valued at $650,000 after acquiring an additional 12,433 shares during the period. Jane Street Group LLC bought a new position in Coda Octopus Group during the second quarter valued at $207,000. Finally, Marshall Wace LLP bought a new position in Coda Octopus Group during the second quarter worth about $104,000. 20.12% of the stock is owned by hedge funds and other institutional investors.

Coda Octopus Group Company Profile

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.