Coda Octopus Group (NASDAQ:CODA) Upgraded to Strong-Buy at Wall Street Zen

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

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Coda Octopus Group in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Coda Octopus Group Stock Down 2.0%

Shares of NASDAQ CODA opened at $10.65 on Friday. Coda Octopus Group has a 52 week low of $5.76 and a 52 week high of $12.22. The firm has a 50-day moving average price of $9.69 and a 200 day moving average price of $8.81. The stock has a market capitalization of $119.81 million, a price-to-earnings ratio of 29.58 and a beta of 0.59.

Coda Octopus Group (NASDAQ:CODA) last issued its earnings results on Thursday, January 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $7.27 million for the quarter, compared to analyst estimates of $6.52 million. Coda Octopus Group had a net margin of 15.55% and a return on equity of 7.45%.

Hedge Funds Weigh In On Coda Octopus Group

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake 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 valued at $494,000 after buying an additional 1,562 shares during the period. Bank of America Corp DE lifted its stake in shares of Coda Octopus Group by 5,475.0% during the 3rd quarter. Bank of America Corp DE now owns 3,122 shares of the company’s stock worth $25,000 after purchasing an additional 3,066 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Coda Octopus Group by 2.1% during the third 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 last quarter. Osaic Holdings Inc. boosted its holdings in shares of Coda Octopus Group by 18.6% during the second quarter. Osaic Holdings Inc. now owns 79,434 shares of the company’s stock worth $650,000 after purchasing an additional 12,433 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Coda Octopus Group in the second quarter valued at $104,000. 20.12% of the stock is owned by institutional investors and hedge funds.

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.