Coda Octopus Group (NASDAQ:CODA) Rating Lowered to Hold at Wall Street Zen

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

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Coda Octopus Group in a research note on Monday, December 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Coda Octopus Group presently has an average rating of “Moderate Buy”.

Coda Octopus Group Stock Performance

NASDAQ:CODA opened at $9.09 on Friday. Coda Octopus Group has a 52-week low of $5.76 and a 52-week high of $10.54. The stock has a fifty day moving average of $9.02 and a 200 day moving average of $8.23. The firm has a market capitalization of $102.26 million, a price-to-earnings ratio of 30.30 and a beta of 0.61.

Coda Octopus Group (NASDAQ:CODA) last released its quarterly earnings results on Monday, September 15th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. Coda Octopus Group had a return on equity of 6.26% and a net margin of 14.09%.The firm had revenue of $7.06 million for the quarter, compared to analysts’ expectations of $7.07 million.

Insider Buying and Selling

In other Coda Octopus Group news, major shareholder Niels Sondergaard sold 150,000 shares of Coda Octopus Group stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $8.15, for a total transaction of $1,222,500.00. Following the transaction, the insider directly owned 2,045,211 shares of the company’s stock, valued at approximately $16,668,469.65. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 206,370 shares of company stock worth $1,685,214 in the last quarter. 21.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coda Octopus Group

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

Coda Octopus Group Company Profile

Coda Octopus Group, Inc, together with its subsidiaries, develops, sells, and rentals underwater technologies and equipment for real time 3D imaging, mapping, defense, and survey applications in the Americas, Europe, Australia, Asia, the Middle East, and Africa. The company operates through two segments, Marine Engineering Business and Marine Technology Business.