Rice Hall James & Associates LLC Trims Stock Position in Coda Octopus Group Inc. $CODA

Rice Hall James & Associates LLC cut its stake in Coda Octopus Group Inc. (NASDAQ:CODA) by 54.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,905 shares of the company’s stock after selling 147,520 shares during the period. Rice Hall James & Associates LLC owned about 1.08% of Coda Octopus Group worth $1,134,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE lifted 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 acquiring an additional 3,066 shares during the last quarter. Marshall Wace LLP purchased a new stake in Coda Octopus Group in the second quarter valued at $104,000. Jane Street Group LLC purchased a new stake in Coda Octopus Group in the fourth quarter valued at $122,000. Commonwealth Equity Services LLC lifted its position in Coda Octopus Group by 50.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 15,000 shares of the company’s stock valued at $140,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in Coda Octopus Group in the fourth quarter valued at $186,000. 20.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Coda Octopus Group news, CFO Gayle Michelle Jardine sold 2,256 shares of Coda Octopus Group stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $12.59, for a total value of $28,403.04. Following the transaction, the chief financial officer directly owned 2,500 shares in the company, valued at approximately $31,475. The trade was a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 21.80% of the company’s stock.

Coda Octopus Group Stock Performance

NASDAQ CODA opened at $9.31 on Wednesday. The firm has a market cap of $105.02 million, a PE ratio of 21.65 and a beta of 0.57. Coda Octopus Group Inc. has a one year low of $7.01 and a one year high of $17.28. The firm’s fifty day moving average is $11.93 and its two-hundred day moving average is $11.54.

Coda Octopus Group (NASDAQ:CODA) last posted its quarterly earnings data on Monday, June 15th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $6.90 million for the quarter, compared to analyst estimates of $7.52 million. Coda Octopus Group had a net margin of 17.66% and a return on equity of 8.44%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Coda Octopus Group from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Coda Octopus Group in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

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.