Coda Octopus Group (NASDAQ:CODA) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Coda Octopus Group (NASDAQ:CODA) posted its quarterly earnings results on Monday. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03, FiscalAI reports. The company had revenue of $6.90 million during the quarter, compared to the consensus estimate of $7.41 million. Coda Octopus Group had a return on equity of 7.17% and a net margin of 14.78%.

Coda Octopus Group Price Performance

Shares of NASDAQ CODA opened at $10.92 on Monday. Coda Octopus Group has a 52 week low of $7.01 and a 52 week high of $17.28. The business has a 50-day simple moving average of $12.03 and a two-hundred day simple moving average of $11.53. The company has a market cap of $123.18 million, a P/E ratio of 30.33 and a beta of 0.57.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CODA. Wall Street Zen downgraded Coda Octopus Group from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Coda Octopus Group in a research note on Thursday, June 4th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Insider Buying and Selling

In other Coda Octopus Group news, CFO Gayle Michelle Jardine sold 2,256 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $12.59, for a total value of $28,403.04. Following the completion of the transaction, the chief financial officer owned 2,500 shares in the company, valued at $31,475. This trade represents a 47.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 21.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 6,231 shares during the period. Marshall Wace LLP boosted its stake in Coda Octopus Group by 79.6% in the 4th quarter. Marshall Wace LLP now owns 158,232 shares of the company’s stock worth $1,472,000 after purchasing an additional 70,146 shares during the period. Archon Capital Management LLC bought a new position in Coda Octopus Group in the 4th quarter worth about $1,395,000. Dimensional Fund Advisors LP boosted its stake in Coda Octopus Group by 29.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 79,802 shares of the company’s stock worth $742,000 after purchasing an additional 18,241 shares during the period. Finally, Osaic Holdings Inc. raised its holdings in shares of Coda Octopus Group by 18.6% in 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 in the last quarter. Institutional investors own 20.12% of the company’s stock.

About Coda Octopus Group

Coda Octopus Group, Inc is a technology company that develops and sells real-time 3D sonar systems and related solutions for underwater applications. Its flagship Echoscope® real-time 3D sonar system enables clients to visualize subsea structures and seabed conditions in unprecedented detail. The company’s product portfolio also includes BathyCORR® geophysical survey processing software, a range of ROV and USV inspection tools, and advanced subsea positioning and motion reference units. These technologies support tasks such as inspection, maintenance, salvage, survey, and security in challenging marine environments.

The company serves a broad set of industries, including offshore oil and gas, marine mining, defense, civil engineering, telecommunications, and scientific research.