Short Interest in Coda Octopus Group, Inc. (NASDAQ:CODA) Drops By 8.1%

Posted by Steven Smith on Jan 20th, 2025

Coda Octopus Group, Inc. (NASDAQ:CODA – Get Free Report) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 97,700 shares, a decrease of 8.1% from the December 15th total of 106,300 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average trading volume of 49,000 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners raised their target price on shares of Coda Octopus Group from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, November 11th.

Check Out Our Latest Report on Coda Octopus Group

Coda Octopus Group Trading Down 3.9 %

NASDAQ CODA traded down $0.33 on Friday, reaching $8.14. 36,926 shares of the company were exchanged, compared to its average volume of 24,399. The business’s fifty day moving average price is $8.60 and its 200 day moving average price is $7.81. The stock has a market capitalization of $91.09 million, a P/E ratio of 30.15 and a beta of 0.57. Coda Octopus Group has a fifty-two week low of $5.21 and a fifty-two week high of $9.89.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Coda Octopus Group stock. Wealthquest Corp bought a new stake in Coda Octopus Group, Inc. (NASDAQ:CODA – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,603 shares of the company’s stock, valued at approximately $108,000. Wealthquest Corp owned about 0.13% of Coda Octopus Group at the end of the most recent reporting period. Hedge funds and other institutional investors own 20.12% of the company’s stock.

About Coda Octopus Group

(Get Free Report)

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.