Coda Octopus Group Inc. (NASDAQ:CODA) Short Interest Update

Coda Octopus Group Inc. (NASDAQ:CODA) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 98,698 shares, an increase of 65.5% from the December 31st total of 59,637 shares. Based on an average daily trading volume, of 215,828 shares, the days-to-cover ratio is currently 0.5 days. Currently, 1.1% of the shares of the company are short sold. Currently, 1.1% of the shares of the company are short sold. Based on an average daily trading volume, of 215,828 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Coda Octopus Group

Several institutional investors have recently modified their holdings of CODA. Corsair Capital Management L.P. purchased a new position in Coda Octopus Group in the 2nd quarter valued at approximately $127,000. Marshall Wace LLP purchased a new position in shares of Coda Octopus Group in the second quarter valued at $104,000. Jane Street Group LLC acquired a new position in shares of Coda Octopus Group during the 2nd quarter worth $207,000. Osaic Holdings Inc. raised its stake in shares of Coda Octopus Group by 18.6% during the 2nd quarter. Osaic Holdings Inc. now owns 79,434 shares of the company’s stock worth $650,000 after buying an additional 12,433 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Coda Octopus Group by 2.1% in 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 in the last quarter. Hedge funds and other institutional investors own 20.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CODA. Wall Street Zen raised shares of Coda Octopus Group from a “hold” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings reissued a “hold (c+)” rating on shares of Coda Octopus Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Coda Octopus Group Stock Down 2.0%

NASDAQ CODA traded down $0.22 during trading hours on Friday, hitting $10.65. 213,333 shares of the stock were exchanged, compared to its average volume of 174,584. The company has a market cap of $119.81 million, a price-to-earnings ratio of 29.58 and a beta of 0.59. Coda Octopus Group has a 12-month low of $5.76 and a 12-month high of $12.22. The stock has a 50-day moving average of $9.69 and a 200 day moving average of $8.81.

Coda Octopus Group (NASDAQ:CODA) last released its earnings results on Thursday, January 29th. The company reported $0.09 earnings per share (EPS) 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 analysts’ expectations of $6.52 million. Coda Octopus Group had a return on equity of 7.45% and a net margin of 15.55%.

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.