Coda Octopus Group (NASDAQ:CODA) Trading Up 4.7% – Still a Buy?

Coda Octopus Group, Inc. (NASDAQ:CODA)’s stock price shot up 4.7% during trading on Wednesday . The stock traded as high as $6.32 and last traded at $6.24. 15,634 shares were traded during mid-day trading, a decline of 45% from the average session volume of 28,293 shares. The stock had previously closed at $5.96.

Coda Octopus Group Stock Up 1.5 %

The firm has a market capitalization of $70.08 million, a P/E ratio of 18.91 and a beta of 0.63. The business’s 50 day moving average is $6.95 and its two-hundred day moving average is $7.90.

Coda Octopus Group (NASDAQ:CODA) last issued its quarterly earnings results on Monday, March 17th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The firm had revenue of $5.21 million for the quarter, compared to analysts’ expectations of $6.35 million. Coda Octopus Group had a return on equity of 7.04% and a net margin of 17.95%.

Institutional Trading of Coda Octopus Group

A number of institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC grew its holdings in Coda Octopus Group by 90.1% in the 4th quarter. Citadel Advisors LLC now owns 50,804 shares of the company’s stock valued at $398,000 after buying an additional 24,084 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Coda Octopus Group during the fourth quarter valued at $114,000. Wealthquest Corp acquired a new position in Coda Octopus Group in the third quarter valued at about $108,000. Renaissance Technologies LLC boosted its holdings in shares of Coda Octopus Group by 137.2% in the 4th quarter. Renaissance Technologies LLC now owns 23,751 shares of the company’s stock worth $186,000 after acquiring an additional 13,737 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Coda Octopus Group by 52.9% during the 4th quarter. Northern Trust Corp now owns 38,833 shares of the company’s stock valued at $304,000 after purchasing an additional 13,442 shares in the last quarter. 20.12% of the stock is currently 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.