Coda Octopus Group, Inc. (NASDAQ:CODA) Sees Significant Drop in Short Interest

Coda Octopus Group, Inc. (NASDAQ:CODA) saw a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 107,000 shares, a decline of 5.1% from the July 31st total of 112,800 shares. Based on an average daily trading volume, of 19,900 shares, the short-interest ratio is presently 5.4 days. Approximately 1.9% of the shares of the stock are short sold.

Institutional Investors Weigh In On Coda Octopus Group

Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new stake in Coda Octopus Group in the 4th quarter worth about $58,000. Buckingham Capital Management Inc. acquired a new position in shares of Coda Octopus Group during the 4th quarter worth approximately $60,000. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Coda Octopus Group by 3.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 244,490 shares of the company’s stock worth $1,473,000 after purchasing an additional 8,948 shares during the last quarter. 20.12% of the stock is currently owned by institutional investors and hedge funds.

Coda Octopus Group Trading Up 1.7 %

CODA stock opened at $7.11 on Tuesday. Coda Octopus Group has a 12-month low of $5.21 and a 12-month high of $7.83. The stock has a market cap of $79.49 million, a price-to-earnings ratio of 28.44 and a beta of 0.59. The business’s 50-day moving average is $6.80 and its 200 day moving average is $6.41.

Coda Octopus Group (NASDAQ:CODA) last posted its quarterly earnings data on Wednesday, June 12th. The company reported $0.13 earnings per share (EPS) for the quarter. Coda Octopus Group had a return on equity of 5.54% and a net margin of 15.15%. The company had revenue of $5.32 million for the quarter.

About Coda Octopus Group

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.