Short Interest in Coda Octopus Group Inc. (NASDAQ:CODA) Drops By 20.1%

Coda Octopus Group Inc. (NASDAQ:CODA) was the target of a large drop in short interest in December. As of December 15th, there was short interest totaling 57,888 shares, a drop of 20.1% from the November 30th total of 72,451 shares. Based on an average daily volume of 48,448 shares, the short-interest ratio is currently 1.2 days. Approximately 0.7% of the shares of the stock are short sold. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily volume of 48,448 shares, the short-interest ratio is currently 1.2 days.

Coda Octopus Group Stock Performance

CODA stock opened at $9.30 on Friday. The company has a 50 day moving average price of $8.99 and a two-hundred day moving average price of $8.42. The stock has a market capitalization of $104.63 million, a P/E ratio of 31.00 and a beta of 0.59. Coda Octopus Group has a one year low of $5.76 and a one year high of $10.54.

Institutional Trading of Coda Octopus Group

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Coda Octopus Group by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 304,058 shares of the company’s stock valued at $2,440,000 after buying an additional 6,231 shares during the period. Osaic Holdings Inc. boosted its position in shares of Coda Octopus Group by 18.6% in the second quarter. Osaic Holdings Inc. now owns 79,434 shares of the company’s stock worth $650,000 after acquiring an additional 12,433 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Coda Octopus Group by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 61,561 shares of the company’s stock valued at $494,000 after purchasing an additional 1,562 shares during the period. Jane Street Group LLC purchased a new stake in Coda Octopus Group in the second quarter valued at approximately $207,000. Finally, Corsair Capital Management L.P. acquired a new position in Coda Octopus Group during the second quarter worth approximately $127,000. 20.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Coda Octopus Group in a research note on Monday. Wall Street Zen downgraded Coda Octopus Group from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

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.