Short Interest in Coda Octopus Group, Inc. (NASDAQ:CODA) Grows By 5.9%

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

Coda Octopus Group Price Performance

CODA opened at $7.38 on Wednesday. Coda Octopus Group has a 12 month low of $5.21 and a 12 month high of $7.83. The stock’s 50 day moving average price is $7.17 and its 200 day moving average price is $6.63. The stock has a market cap of $82.47 million, a P/E ratio of 29.52 and a beta of 0.54.

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

Hedge Funds Weigh In On Coda Octopus Group

An institutional investor recently raised its position in Coda Octopus Group stock. Rice Hall James & Associates LLC raised its holdings in Coda Octopus Group, Inc. (NASDAQ:CODA) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities and 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 2.19% of Coda Octopus Group worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other 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.