Wall Street Zen Downgrades Coda Octopus Group (NASDAQ:CODA) to Hold

Coda Octopus Group (NASDAQ:CODA) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Separately, Alliance Global Partners reissued a “buy” rating on shares of Coda Octopus Group in a research report on Monday, June 16th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coda Octopus Group has a consensus rating of “Buy” and an average target price of $11.00.

Coda Octopus Group Stock Performance

Coda Octopus Group stock opened at $8.76 on Friday. The stock has a fifty day moving average of $7.82 and a two-hundred day moving average of $7.21. The company has a market capitalization of $98.54 million, a price-to-earnings ratio of 29.20 and a beta of 0.60. Coda Octopus Group has a fifty-two week low of $5.76 and a fifty-two week high of $9.89.

Coda Octopus Group (NASDAQ:CODA) last released its quarterly earnings results on Monday, June 16th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. The company had revenue of $7.02 million during the quarter, compared to the consensus estimate of $6.16 million. Coda Octopus Group had a return on equity of 6.37% and a net margin of 15.04%.

Institutional Investors Weigh In On Coda Octopus Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CODA. Osaic Holdings Inc. grew its position in Coda Octopus Group by 18.6% during the second 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. Dimensional Fund Advisors LP lifted its stake in shares of Coda Octopus Group by 3.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 59,999 shares of the company’s stock worth $470,000 after purchasing an additional 2,180 shares in the last quarter. Citadel Advisors LLC lifted its stake in shares of Coda Octopus Group by 90.1% during the fourth quarter. Citadel Advisors LLC now owns 50,804 shares of the company’s stock worth $398,000 after purchasing an additional 24,084 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Coda Octopus Group by 52.9% during the fourth quarter. Northern Trust Corp now owns 38,833 shares of the company’s stock worth $304,000 after purchasing an additional 13,442 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Coda Octopus Group during the second quarter worth about $207,000. Hedge funds and other institutional investors own 20.12% of the company’s stock.

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.