Alliance Global Partners Issues Positive Forecast for Coda Octopus Group (NASDAQ:CODA) Stock Price

Coda Octopus Group (NASDAQ:CODA) had its price objective raised by Alliance Global Partners from $9.00 to $11.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Coda Octopus Group Stock Performance

Shares of NASDAQ CODA opened at $8.67 on Monday. The company’s 50 day moving average price is $7.95 and its 200-day moving average price is $7.13. Coda Octopus Group has a 52-week low of $5.21 and a 52-week high of $9.15. The company has a market capitalization of $97.02 million, a P/E ratio of 32.11 and a beta of 0.52.

Coda Octopus Group (NASDAQ:CODA) last released its earnings results on Monday, September 16th. The company reported $0.11 earnings per share (EPS) 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 Investors Weigh In On Coda Octopus Group

A hedge fund recently raised its stake in Coda Octopus Group stock. Rice Hall James & Associates LLC increased its stake in Coda Octopus Group, Inc. (NASDAQ:CODA) by 25.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 307,388 shares of the company’s stock after acquiring an additional 62,898 shares during the quarter. Rice Hall James & Associates LLC owned 2.75% of Coda Octopus Group worth $2,229,000 at the end of the most recent reporting period. 20.12% of the stock is owned by institutional investors and hedge funds.

Coda Octopus Group Company Profile

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.