Short Interest in Coda Octopus Group, Inc. (NASDAQ:CODA) Declines By 6.7%

Coda Octopus Group, Inc. (NASDAQ:CODA) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 103,800 shares, a drop of 6.7% from the September 15th total of 111,200 shares. Based on an average trading volume of 26,700 shares, the days-to-cover ratio is presently 3.9 days. Approximately 1.9% of the shares of the stock are short sold.

Coda Octopus Group Stock Down 0.8 %

Shares of NASDAQ CODA traded down $0.07 during midday trading on Thursday, hitting $8.49. The stock had a trading volume of 31,293 shares, compared to its average volume of 23,734. Coda Octopus Group has a 1 year low of $5.21 and a 1 year high of $8.83. The company has a market capitalization of $94.88 million, a PE ratio of 34.24 and a beta of 0.54. The stock has a 50 day simple moving average of $7.37 and a 200-day simple moving average of $6.80.

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

Institutional Investors Weigh In On Coda Octopus Group

A hedge fund recently raised its stake in Coda Octopus Group stock. Rice Hall James & Associates LLC boosted its holdings in shares of Coda Octopus Group, Inc. (NASDAQ:CODA) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 244,490 shares of the company’s stock after acquiring an additional 8,948 shares during the quarter. Rice Hall James & Associates LLC owned about 2.19% of Coda Octopus Group worth $1,473,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.