Coda Octopus Group (NASDAQ:CODA) Downgraded by Wall Street Zen to Hold

Coda Octopus Group (NASDAQ:CODA) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coda Octopus Group in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Coda Octopus Group Stock Down 8.2%

Shares of NASDAQ:CODA opened at $10.92 on Friday. Coda Octopus Group has a 52-week low of $7.01 and a 52-week high of $17.28. The company has a 50 day moving average of $12.03 and a two-hundred day moving average of $11.51. The company has a market capitalization of $123.18 million, a price-to-earnings ratio of 30.33 and a beta of 0.57.

Coda Octopus Group (NASDAQ:CODA) last issued its quarterly earnings data on Tuesday, March 17th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. Coda Octopus Group had a net margin of 14.78% and a return on equity of 7.17%. The company had revenue of $6.71 million during the quarter, compared to the consensus estimate of $6.23 million.

Insider Activity at Coda Octopus Group

In other news, CFO Gayle Michelle Jardine sold 2,256 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $12.59, for a total transaction of $28,403.04. Following the completion of the transaction, the chief financial officer directly owned 2,500 shares in the company, valued at approximately $31,475. This represents a 47.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Coda Octopus Group

Several institutional investors and hedge funds have recently made changes to their positions in CODA. Marshall Wace LLP purchased a new position in shares of Coda Octopus Group during the 2nd quarter valued at approximately $104,000. Jane Street Group LLC bought a new position in Coda Octopus Group during the second quarter worth $207,000. Osaic Holdings Inc. lifted its stake in Coda Octopus Group by 18.6% during the second quarter. Osaic Holdings Inc. now owns 79,434 shares of the company’s stock worth $650,000 after purchasing an additional 12,433 shares during the last quarter. Vanguard Group Inc. lifted its stake in Coda Octopus Group by 2.1% during the third quarter. Vanguard Group Inc. now owns 304,058 shares of the company’s stock worth $2,440,000 after purchasing an additional 6,231 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Coda Octopus Group by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 61,561 shares of the company’s stock worth $494,000 after purchasing an additional 1,562 shares during 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.