Coda Octopus Group (NASDAQ:CODA) Posts Earnings Results, Beats Estimates By $0.03 EPS

Coda Octopus Group (NASDAQ:CODA) posted its quarterly earnings data on Monday. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03, FiscalAI reports. The company had revenue of $6.90 million for the quarter, compared to analyst estimates of $7.41 million. Coda Octopus Group had a return on equity of 7.17% and a net margin of 14.78%.

Coda Octopus Group Stock Performance

Shares of CODA opened at $10.92 on Monday. Coda Octopus Group has a 52-week low of $7.01 and a 52-week high of $17.28. The business’s 50 day moving average price is $12.03 and its two-hundred day moving average price is $11.53. The firm has a market cap of $123.18 million, a PE ratio of 30.33 and a beta of 0.57.

Analyst Ratings Changes

A number of research firms recently commented on CODA. Wall Street Zen lowered Coda Octopus Group from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coda Octopus Group in a research note on Thursday, June 4th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Coda Octopus Group currently has an average rating of “Moderate Buy”.

Insider Transactions at Coda Octopus Group

In other Coda Octopus Group news, CFO Gayle Michelle Jardine sold 2,256 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $12.59, for a total value of $28,403.04. Following the transaction, the chief financial officer directly owned 2,500 shares of the company’s stock, valued at approximately $31,475. The trade was a 47.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Coda Octopus Group

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in 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 buying an additional 6,231 shares during the period. Marshall Wace LLP lifted its stake in Coda Octopus Group by 79.6% in the fourth quarter. Marshall Wace LLP now owns 158,232 shares of the company’s stock valued at $1,472,000 after buying an additional 70,146 shares during the period. Archon Capital Management LLC acquired a new position in Coda Octopus Group in the fourth quarter valued at approximately $1,395,000. Dimensional Fund Advisors LP lifted its stake in Coda Octopus Group by 29.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 79,802 shares of the company’s stock valued at $742,000 after buying an additional 18,241 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in Coda Octopus Group by 18.6% in the second quarter. Osaic Holdings Inc. now owns 79,434 shares of the company’s stock valued at $650,000 after buying an additional 12,433 shares during the period. 20.12% of the stock is owned by institutional investors and hedge funds.

About Coda Octopus Group

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.