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

Wall Street Zen downgraded shares of Coda Octopus Group (NASDAQ:CODA) from a strong-buy rating to a buy rating in a research note published on Saturday.

A number of other analysts have also weighed in on the stock. Alliance Global Partners reaffirmed a “buy” rating on shares of Coda Octopus Group in a research note on Monday, February 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Coda Octopus Group in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Coda Octopus Group Stock Up 3.0%

Shares of NASDAQ CODA opened at $14.40 on Friday. The business has a fifty day simple moving average of $11.74 and a two-hundred day simple moving average of $9.76. The firm has a market cap of $162.29 million, a PE ratio of 40.00 and a beta of 0.51. Coda Octopus Group has a twelve month low of $5.76 and a twelve month high of $14.98.

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 business had revenue of $7.27 million during the quarter, compared to analysts’ expectations of $6.52 million. Coda Octopus Group had a return on equity of 7.36% and a net margin of 15.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Corsair Capital Management L.P. purchased a new position in Coda Octopus Group in the second quarter valued at about $127,000. Essex Investment Management Co. LLC lifted its position in shares of Coda Octopus Group by 61.4% during the fourth quarter. Essex Investment Management Co. LLC now owns 23,299 shares of the company’s stock valued at $217,000 after buying an additional 8,865 shares during the last quarter. State Street Corp lifted its position in shares of Coda Octopus Group by 6.3% during the fourth quarter. State Street Corp now owns 33,903 shares of the company’s stock valued at $315,000 after buying an additional 2,000 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Coda Octopus Group in the 4th quarter valued at about $122,000. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Coda Octopus Group by 50.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 15,000 shares of the company’s stock valued at $140,000 after buying an additional 5,000 shares in the last quarter. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

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.