Short Interest in Codan Limited (OTCMKTS:CODAF) Drops By 16.9%

Codan Limited (OTCMKTS:CODAF) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 13,658 shares, a drop of 16.9% from the March 15th total of 16,435 shares. Based on an average daily volume of 75 shares, the short-interest ratio is currently 182.1 days.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group set a $38.50 price target on Codan in a report on Sunday, February 22nd.

Codan Stock Performance

CODAF opened at C$23.61 on Friday. Codan has a 12 month low of C$18.44 and a 12 month high of C$27.69. The stock’s 50 day moving average price is C$25.65 and its 200 day moving average price is C$23.67.

Codan Company Profile

Codan Limited (OTCMKTS:CODAF) is an Australian technology company specializing in the design and manufacture of communications and detection equipment. Headquartered in Adelaide, South Australia, Codan operates through two primary business segments—detection and communications—providing hardware, software and turn-key solutions to commercial, government and humanitarian customers worldwide.

In its detection segment, Codan markets metal-detection products under the Minelab brand. These detectors serve a range of applications including gold prospecting, security screening, landmine and ordinance clearance, and archaeological exploration.