Coda Octopus Group (NASDAQ:CODA) Major Shareholder John Steven Emerson Sells 86,254 Shares

Coda Octopus Group Inc. (NASDAQ:CODA) major shareholder John Steven Emerson sold 86,254 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $14.95, for a total value of $1,289,497.30. Following the completion of the transaction, the insider owned 5,286 shares of the company’s stock, valued at $79,025.70. This represents a 94.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Coda Octopus Group Stock Performance

Shares of CODA opened at $12.59 on Tuesday. Coda Octopus Group Inc. has a twelve month low of $5.97 and a twelve month high of $17.28. The firm’s 50 day moving average price is $13.07 and its two-hundred day moving average price is $10.80. The firm has a market cap of $142.02 million, a P/E ratio of 34.97 and a beta of 0.54.

Coda Octopus Group (NASDAQ:CODA) last issued its quarterly earnings data on Tuesday, March 17th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. Coda Octopus Group had a net margin of 14.78% and a return on equity of 7.17%. The company had revenue of $6.71 million during the quarter, compared to the consensus estimate of $6.23 million.

Analyst Ratings Changes

CODA has been the topic of several recent research reports. Wall Street Zen downgraded Coda Octopus Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Alliance Global Partners reaffirmed a “buy” rating on shares of Coda Octopus Group in a research report on Monday, February 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Coda Octopus Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in Coda Octopus Group by 5,475.0% in the third quarter. Bank of America Corp DE now owns 3,122 shares of the company’s stock valued at $25,000 after purchasing an additional 3,066 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Coda Octopus Group during the 4th quarter worth about $104,000. Marshall Wace LLP bought a new stake in Coda Octopus Group during the 2nd quarter worth about $104,000. Vanguard Group Inc. boosted its stake in shares of 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 last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Coda Octopus Group by 29.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 79,802 shares of the company’s stock worth $742,000 after buying an additional 18,241 shares during the last quarter. Institutional investors and hedge funds own 20.12% of the company’s stock.

Coda Octopus Group Company Profile

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.