Alliance Global Partners Lowers Coda Octopus Group (NASDAQ:CODA) Price Target to $10.00

Coda Octopus Group (NASDAQ:CODA) had its price target cut by research analysts at Alliance Global Partners from $12.00 to $10.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Alliance Global Partners’ price objective would indicate a potential upside of 57.73% from the company’s previous close.

Coda Octopus Group Stock Up 1.8 %

Shares of NASDAQ:CODA opened at $6.34 on Wednesday. Coda Octopus Group has a fifty-two week low of $4.95 and a fifty-two week high of $11.09. The firm’s 50 day moving average price is $8.08 and its 200 day moving average price is $8.15. The stock has a market cap of $70.49 million, a price-to-earnings ratio of 14.74 and a beta of 1.02.

Coda Octopus Group (NASDAQ:CODA) last announced its quarterly earnings data on Wednesday, September 13th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The firm had revenue of $4.89 million during the quarter. Coda Octopus Group had a net margin of 21.88% and a return on equity of 10.78%.

Hedge Funds Weigh In On Coda Octopus Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Touchstone Capital Inc. lifted its position in Coda Octopus Group by 48.3% in the second quarter. Touchstone Capital Inc. now owns 493,045 shares of the company’s stock valued at $4,048,000 after acquiring an additional 160,564 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of Coda Octopus Group by 3.8% during the second quarter. Rice Hall James & Associates LLC now owns 255,008 shares of the company’s stock worth $2,094,000 after buying an additional 9,340 shares during the period. BlackRock Inc. boosted its stake in shares of Coda Octopus Group by 1.3% during the second quarter. BlackRock Inc. now owns 104,856 shares of the company’s stock worth $861,000 after buying an additional 1,386 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Coda Octopus Group by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 66,850 shares of the company’s stock worth $485,000 after buying an additional 4,306 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Coda Octopus Group by 33.4% during the 2nd quarter. Geode Capital Management LLC now owns 54,433 shares of the company’s stock worth $447,000 after acquiring an additional 13,623 shares during the period. 20.20% of the stock is owned by institutional investors and hedge funds.

About Coda Octopus Group

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 United States of America and internationally. The company operates through two segments, Marine Engineering Business and Marine Technology Business.