Coda Octopus Group, Inc. (NASDAQ:CODA) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 839,000 shares, a growth of 7.5% from the January 15th total of 780,400 shares. Based on an average trading volume of 69,200 shares, the short-interest ratio is presently 12.1 days. Approximately 28.6% of the shares of the company are sold short.
Institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp purchased a new position in Coda Octopus Group in the 2nd quarter worth approximately $181,000. BlackRock Inc. grew its stake in shares of Coda Octopus Group by 2,974.1% in the second quarter. BlackRock Inc. now owns 344,727 shares of the company’s stock worth $4,499,000 after acquiring an additional 333,513 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Coda Octopus Group by 606.8% in the second quarter. Vanguard Group Inc. now owns 231,456 shares of the company’s stock worth $3,020,000 after acquiring an additional 198,711 shares in the last quarter. Morgan Stanley acquired a new position in shares of Coda Octopus Group in the second quarter worth $223,000. Finally, Essex Investment Management Co. LLC grew its stake in shares of Coda Octopus Group by 356.5% in the third quarter. Essex Investment Management Co. LLC now owns 209,585 shares of the company’s stock worth $1,721,000 after acquiring an additional 163,678 shares in the last quarter. 20.62% of the stock is owned by institutional investors.
Shares of CODA traded up $0.18 during trading hours on Friday, hitting $7.04. The stock had a trading volume of 65,529 shares. Coda Octopus Group has a 12 month low of $6.05 and a 12 month high of $19.20. The stock has a fifty day moving average price of $7.59 and a 200 day moving average price of $8.36.
Separately, ValuEngine lowered Coda Octopus Group from a “buy” rating to a “hold” rating in a report on Saturday.
About Coda Octopus Group
Coda Octopus Group, Inc, together with its subsidiaries, develops and sells underwater technologies and equipment for imaging, mapping, defense, and survey applications in the United States, Europe, and Australia. The company operates through two segments, Marine Engineering Business and Marine Technology Business.
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