Coda Octopus Group (NASDAQ:CODA) Upgraded at Wall Street Zen

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

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

Coda Octopus Group Price Performance

Shares of CODA stock opened at $10.65 on Friday. The firm’s 50-day simple moving average is $9.69 and its 200-day simple moving average is $8.81. Coda Octopus Group has a 1-year low of $5.76 and a 1-year high of $12.22. The firm has a market cap of $119.81 million, a P/E ratio of 29.58 and a beta of 0.59.

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, beating analysts’ consensus estimates of $0.07 by $0.02. Coda Octopus Group had a net margin of 15.55% and a return on equity of 7.45%. The firm had revenue of $7.27 million during the quarter, compared to the consensus estimate of $6.52 million.

Institutional Investors Weigh In On Coda Octopus Group

Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in shares of Coda Octopus Group by 5,475.0% in the 3rd 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 period. Marshall Wace LLP purchased a new stake in Coda Octopus Group during the 2nd quarter worth $104,000. Corsair Capital Management L.P. acquired a new stake in Coda Octopus Group in the 2nd quarter valued at $127,000. Jane Street Group LLC purchased a new position in Coda Octopus Group in the second quarter valued at about $207,000. Finally, Dimensional Fund Advisors LP raised its position 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. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

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.