Short Interest in Codan Limited (OTCMKTS:CODAF) Decreases By 48.4%

Codan Limited (OTCMKTS:CODAF) was the target of a significant decline in short interest in May. As of May 29th, there was short interest totaling 3,425 shares, a decline of 48.4% from the May 14th total of 6,638 shares. Based on an average trading volume of 0 shares, the short-interest ratio is currently ∞ days.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group set a $38.50 price objective on shares of Codan in a research note on Sunday, February 22nd.

Codan Stock Performance

Shares of OTCMKTS CODAF opened at C$23.61 on Tuesday. The firm’s 50 day moving average price is C$23.61 and its 200-day moving average price is C$24.20. Codan has a 52-week low of C$18.44 and a 52-week high of C$27.69.

Codan Company Profile

Codan Limited (OTCMKTS:CODAF) is an Australian technology company specializing in the design and manufacture of communications and detection equipment. Headquartered in Adelaide, South Australia, Codan operates through two primary business segments—detection and communications—providing hardware, software and turn-key solutions to commercial, government and humanitarian customers worldwide.

In its detection segment, Codan markets metal-detection products under the Minelab brand. These detectors serve a range of applications including gold prospecting, security screening, landmine and ordinance clearance, and archaeological exploration.