Coda Octopus Group (NASDAQ:CODA) Announces Quarterly Earnings Results

Coda Octopus Group (NASDAQ:CODA) released its earnings results on Monday. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12, FiscalAI reports. The company had revenue of $7.72 million for the quarter, compared to analysts’ expectations of $7.26 million. Coda Octopus Group had a return on equity of 8.33% and a net margin of 17.66%.

Coda Octopus Group Stock Performance

CODA opened at $10.02 on Monday. The company has a market cap of $113.03 million, a PE ratio of 23.30 and a beta of 0.60. The stock has a 50-day moving average of $10.09 and a 200-day moving average of $11.33. Coda Octopus Group has a 52-week low of $7.80 and a 52-week high of $17.28.

Institutional Investors Weigh In On Coda Octopus Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position in Coda Octopus Group by 5,475.0% during the third quarter. Bank of America Corp DE now owns 3,122 shares of the company’s stock worth $25,000 after purchasing an additional 3,066 shares during the period. Marshall Wace LLP bought a new position in shares of Coda Octopus Group in the second quarter valued at approximately $104,000. Quadrature Capital Ltd bought a new position in shares of Coda Octopus Group in the fourth quarter valued at approximately $104,000. Trexquant Investment LP bought a new position in shares of Coda Octopus Group in the fourth quarter valued at approximately $106,000. Finally, Jane Street Group LLC acquired a new stake in shares of Coda Octopus Group in the fourth quarter worth $122,000. 20.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CODA shares. Wall Street Zen lowered shares of Coda Octopus Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. UBS Group raised shares of Coda Octopus Group to a “buy” rating in a research note on Thursday, June 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coda Octopus Group in a report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Coda Octopus Group presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

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.