Coda Octopus Group (NASDAQ:CODA) Upgraded by Wall Street Zen to “Buy” Rating

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

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coda Octopus Group in a research note on Monday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Coda Octopus Group Price Performance

Shares of NASDAQ:CODA opened at $8.59 on Friday. The stock has a market cap of $96.64 million, a price-to-earnings ratio of 28.63 and a beta of 0.61. The company has a 50 day moving average of $8.94 and a 200-day moving average of $8.14. Coda Octopus Group has a one year low of $5.76 and a one year high of $10.54.

Coda Octopus Group (NASDAQ:CODA) last announced 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. Coda Octopus Group had a net margin of 14.09% and a return on equity of 6.26%. The firm had revenue of $7.06 million for the quarter, compared to analysts’ expectations of $7.07 million.

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 dated Thursday, October 2nd. The stock was sold at an average price of $8.15, for a total transaction of $1,222,500.00. Following the transaction, the insider directly owned 2,045,211 shares in the company, valued at approximately $16,668,469.65. The trade was a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 206,370 shares of company stock worth $1,685,214. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Coda Octopus Group

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Coda Octopus Group by 2.1% during 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 period. Osaic Holdings Inc. boosted its holdings in shares of Coda Octopus Group by 18.6% in the second quarter. Osaic Holdings Inc. now owns 79,434 shares of the company’s stock valued at $650,000 after buying an additional 12,433 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Coda Octopus Group by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 61,561 shares of the company’s stock worth $494,000 after acquiring an additional 1,562 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Coda Octopus Group during the second quarter worth $207,000. Finally, Corsair Capital Management L.P. acquired a new stake in shares of Coda Octopus Group during the second quarter worth $127,000. 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.