Insider Selling: Coda Octopus Group (NASDAQ:CODA) Major Shareholder Sells $1,289,497.30 in Stock

Coda Octopus Group Inc. (NASDAQ:CODA) major shareholder John Steven Emerson sold 86,254 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $14.95, for a total transaction of $1,289,497.30. Following the sale, the insider directly owned 5,286 shares of the company’s stock, valued at approximately $79,025.70. The trade was a 94.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Coda Octopus Group Price Performance

NASDAQ:CODA opened at $12.06 on Thursday. The firm has a 50-day moving average of $13.06 and a 200-day moving average of $10.83. The company has a market cap of $136.04 million, a PE ratio of 33.50 and a beta of 0.54. Coda Octopus Group Inc. has a one year low of $5.97 and a one year high of $17.28.

Coda Octopus Group (NASDAQ:CODA) last posted its earnings results on Tuesday, March 17th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $6.71 million during the quarter, compared to the consensus estimate of $6.23 million. Coda Octopus Group had a net margin of 14.78% and a return on equity of 7.17%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CODA. Marshall Wace LLP purchased a new position in Coda Octopus Group during the second quarter worth about $104,000. Jane Street Group LLC purchased a new position in Coda Octopus Group during the second quarter worth about $207,000. Osaic Holdings Inc. boosted its holdings in Coda Octopus Group by 18.6% during the second quarter. Osaic Holdings Inc. now owns 79,434 shares of the company’s stock worth $650,000 after purchasing an additional 12,433 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Coda Octopus Group by 2.1% during the third quarter. Vanguard Group Inc. now owns 304,058 shares of the company’s stock worth $2,440,000 after purchasing an additional 6,231 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Coda Octopus Group by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 61,561 shares of the company’s stock worth $494,000 after purchasing an additional 1,562 shares during the last quarter. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CODA has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Coda Octopus Group in a research report on Monday, December 29th. Wall Street Zen cut shares of Coda Octopus Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Finally, Alliance Global Partners restated a “buy” rating on shares of Coda Octopus Group in a report on Monday, February 9th. One investment 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, the stock has a consensus rating of “Moderate Buy”.

Coda Octopus Group Company Profile

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.