Coda Octopus Group, Inc. (NASDAQ:CODA) Short Interest Update

Coda Octopus Group, Inc. (NASDAQ:CODA) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 111,200 shares, an increase of 5.9% from the August 31st total of 105,000 shares. Approximately 2.0% of the company’s shares are short sold. Based on an average trading volume of 24,900 shares, the short-interest ratio is presently 4.5 days.

Coda Octopus Group Price Performance

Shares of NASDAQ:CODA opened at $7.38 on Wednesday. The business has a 50-day moving average of $7.17 and a two-hundred day moving average of $6.63. The firm has a market capitalization of $82.47 million, a PE ratio of 29.52 and a beta of 0.54. Coda Octopus Group has a 12 month low of $5.21 and a 12 month high of $7.83.

Coda Octopus Group (NASDAQ:CODA) last posted its earnings results on Monday, September 16th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Coda Octopus Group had a net margin of 15.93% and a return on equity of 5.93%. The business had revenue of $5.48 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Coda Octopus Group stock. Rice Hall James & Associates LLC increased its position in Coda Octopus Group, Inc. (NASDAQ:CODA) by 3.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 244,490 shares of the company’s stock after purchasing an additional 8,948 shares during the period. Rice Hall James & Associates LLC owned 2.19% of Coda Octopus Group worth $1,473,000 at the end of the most recent reporting period. Institutional investors own 20.12% of the company’s stock.

About Coda Octopus Group

Coda Octopus Group, Inc, together with its subsidiaries, develops, sells, and rentals underwater technologies and equipment for real time 3D imaging, mapping, defense, and survey applications in the Americas, Europe, Australia, Asia, the Middle East, and Africa. The company operates through two segments, Marine Engineering Business and Marine Technology Business.