Key Points
- Major shareholder John Steven Emerson sold 86,254 shares on March 11 at an average price of $14.95 for about $1.29 million, reducing his ownership by 94.23% to 5,286 shares (SEC filing).
- Coda reported better-than-expected quarterly results, with $0.08 EPS vs. $0.06 expected and revenue of $6.71M vs. $6.23M, yet the stock opened at $12.59 and was trading down about 5.1% (market cap ~$142M).
- Institutional investors own roughly 20.12% of the company, with recent stake increases from firms like Vanguard and Marshall Wace, and analysts' consensus is a "Moderate Buy" (one Buy, one Hold).
Coda Octopus Group Inc. (NASDAQ:CODA - Get Free Report) major shareholder John Steven Emerson sold 86,254 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $14.95, for a total value of $1,289,497.30. Following the completion of the transaction, the insider owned 5,286 shares of the company's stock, valued at approximately $79,025.70. This represents a 94.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Coda Octopus Group Trading Down 5.1%
NASDAQ CODA opened at $12.59 on Tuesday. Coda Octopus Group Inc. has a 12 month low of $5.97 and a 12 month high of $17.28. The stock has a 50 day moving average of $13.07 and a 200-day moving average of $10.80. The company has a market cap of $142.02 million, a PE ratio of 34.97 and a beta of 0.54.
Coda Octopus Group (NASDAQ:CODA - Get Free Report) last issued its earnings results on Tuesday, March 17th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. Coda Octopus Group had a net margin of 14.78% and a return on equity of 7.17%. The business had revenue of $6.71 million for the quarter, compared to the consensus estimate of $6.23 million.
Hedge Funds Weigh In On Coda Octopus Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Coda Octopus Group by 2.1% in the third 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. Marshall Wace LLP lifted its stake in shares of Coda Octopus Group by 79.6% during the 4th quarter. Marshall Wace LLP now owns 158,232 shares of the company's stock worth $1,472,000 after buying an additional 70,146 shares during the last quarter. Archon Capital Management LLC acquired a new stake in shares of Coda Octopus Group during the 4th quarter worth about $1,395,000. Dimensional Fund Advisors LP boosted its holdings in shares of Coda Octopus Group by 29.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 79,802 shares of the company's stock worth $742,000 after buying an additional 18,241 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in shares of Coda Octopus Group by 18.6% during the 2nd quarter. Osaic Holdings Inc. now owns 79,434 shares of the company's stock worth $650,000 after buying an additional 12,433 shares during the period. 20.12% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on CODA shares. Wall Street Zen lowered shares of Coda Octopus Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. Alliance Global Partners reiterated a "buy" rating on shares of Coda Octopus Group in a report on Monday, February 9th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Coda Octopus Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Coda Octopus Group presently has an average rating of "Moderate Buy".
View Our Latest Stock Analysis on Coda Octopus Group
Coda Octopus Group Company Profile
(
Get Free Report)
Coda Octopus Group, Inc is a technology company that develops and sells real-time 3D sonar systems and related solutions for underwater applications. Its flagship Echoscope® real-time 3D sonar system enables clients to visualize subsea structures and seabed conditions in unprecedented detail. The company's product portfolio also includes BathyCORR® geophysical survey processing software, a range of ROV and USV inspection tools, and advanced subsea positioning and motion reference units. These technologies support tasks such as inspection, maintenance, salvage, survey, and security in challenging marine environments.
The company serves a broad set of industries, including offshore oil and gas, marine mining, defense, civil engineering, telecommunications, and scientific research.
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