Codan (OTCMKTS:CODAF) Shares Up 14.5% – Still a Buy?

Codan Limited (OTCMKTS:CODAF) shares traded up 14.5% on Tuesday . The stock traded as high as C$25.57 and last traded at C$25.57. 100 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 500 shares. The stock had previously closed at C$22.34.

Analysts Set New Price Targets

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

Codan Stock Performance

The stock has a fifty day moving average price of C$25.20 and a two-hundred day moving average price of C$22.71.

About Codan

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.