Coda Octopus Group (NASDAQ:CODA) Issues Earnings Results

Coda Octopus Group (NASDAQ:CODA) posted its quarterly earnings results on Monday. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01, Fidelity Earnings reports. Coda Octopus Group had a net margin of 27.32% and a return on equity of 15.59%.

NASDAQ CODA traded down $0.10 on Wednesday, hitting $8.90. 20,944 shares of the stock were exchanged, compared to its average volume of 31,017. Coda Octopus Group has a fifty-two week low of $5.15 and a fifty-two week high of $10.17. The company has a 50-day moving average price of $8.92 and a 200-day moving average price of $8.60. The company has a market cap of $96.40 million, a PE ratio of 17.80 and a beta of 1.58.

A number of research analysts recently issued reports on the company. TheStreet upgraded Coda Octopus Group from a “c+” rating to a “b-” rating in a report on Thursday, June 24th. Alliance Global Partners reiterated a “buy” rating and issued a $13.00 price objective (up previously from $11.00) on shares of Coda Octopus Group in a research note on Monday, June 14th.

In related news, insider Blair Graeme Cunningham sold 7,492 shares of the company’s stock in a transaction that occurred on Monday, June 21st. The stock was sold at an average price of $9.49, for a total value of $71,099.08. Following the completion of the transaction, the insider now directly owns 27,298 shares of the company’s stock, valued at $259,058.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Niels Sondergaard sold 54,382 shares of the business’s stock in a transaction that occurred on Wednesday, June 23rd. The stock was sold at an average price of $9.05, for a total transaction of $492,157.10. Following the sale, the insider now owns 2,263,104 shares of the company’s stock, valued at approximately $20,481,091.20. The disclosure for this sale can be found here. Insiders sold a total of 77,981 shares of company stock worth $716,273 over the last 90 days. Company insiders own 31.50% of the company’s stock.

Coda Octopus Group Company Profile

Coda Octopus Group, Inc engages in designing and manufacturing patented real time 3D sonar solutions. It operates through the following two segments: Marine Technology Business and Marine Engineering Business. The Marine Technology Business segment develops solutions for both commercial and defense subsea market.

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Earnings History for Coda Octopus Group (NASDAQ:CODA)

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