Coda Octopus Group (NASDAQ:CODA) Announces Earnings Results

Coda Octopus Group (NASDAQ:CODAGet Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03), MarketWatch Earnings reports. Coda Octopus Group had a net margin of 21.88% and a return on equity of 10.78%. The business had revenue of $4.89 million during the quarter.

Coda Octopus Group Stock Down 16.7 %

Coda Octopus Group stock opened at $6.23 on Thursday. The firm has a fifty day moving average of $8.11 and a 200-day moving average of $8.16. The firm has a market capitalization of $69.27 million, a P/E ratio of 14.49 and a beta of 1.02. Coda Octopus Group has a 52-week low of $4.95 and a 52-week high of $11.09.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners lowered their target price on shares of Coda Octopus Group from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday.

View Our Latest Analysis on CODA

Institutional Investors Weigh In On Coda Octopus Group

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada bought a new position in shares of Coda Octopus Group in the 2nd quarter worth about $74,000. Millennium Management LLC acquired a new stake in Coda Octopus Group during the second quarter valued at approximately $50,000. Renaissance Technologies LLC purchased a new stake in shares of Coda Octopus Group in the 4th quarter valued at approximately $96,000. Ancora Advisors LLC lifted its position in shares of Coda Octopus Group by 37.1% in the 1st quarter. Ancora Advisors LLC now owns 52,713 shares of the company’s stock valued at $468,000 after acquiring an additional 14,270 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Coda Octopus Group by 33.4% in the 2nd quarter. Geode Capital Management LLC now owns 54,433 shares of the company’s stock valued at $447,000 after buying an additional 13,623 shares during the period. 20.20% of the stock is owned by institutional investors and hedge funds.

About Coda Octopus Group

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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 United States of America and internationally. The company operates through two segments, Marine Engineering Business and Marine Technology Business.

See Also

Earnings History for Coda Octopus Group (NASDAQ:CODA)

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