Coda Octopus Group (NASDAQ:CODA) Stock Price Down 3.2% – What’s Next?

Coda Octopus Group, Inc. (NASDAQ:CODA) dropped 3.2% during trading on Monday . The stock traded as low as $9.07 and last traded at $9.16. Approximately 58,693 shares were traded during mid-day trading, an increase of 101% from the average daily volume of 29,136 shares. The stock had previously closed at $9.46.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners boosted 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.

Coda Octopus Group Stock Performance

The company has a 50 day moving average of $8.39 and a 200 day moving average of $7.32. The stock has a market capitalization of $102.50 million, a price-to-earnings ratio of 33.93 and a beta of 0.52.

Coda Octopus Group (NASDAQ:CODA) last posted its quarterly earnings results on Monday, September 16th. The company reported $0.11 earnings per share for the quarter, topping 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 firm had revenue of $5.48 million for the quarter.

Institutional Trading of Coda Octopus Group

A hedge fund recently raised its stake in Coda Octopus Group stock. Rice Hall James & Associates LLC boosted its stake in Coda Octopus Group, Inc. (NASDAQ:CODA) by 25.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 307,388 shares of the company’s stock after purchasing an additional 62,898 shares during the period. Rice Hall James & Associates LLC owned about 2.75% of Coda Octopus Group worth $2,229,000 at the end of the most recent 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.