Coda Octopus Group (NASDAQ:CODA) Shares Down 3.2% – Should You Sell?

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

Analysts Set New Price Targets

Separately, Alliance Global Partners boosted their price objective on Coda Octopus Group from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday, November 11th.

Coda Octopus Group Stock Performance

The stock’s fifty day simple moving average is $8.46 and its 200-day simple moving average is $7.35. The company has a market capitalization of $101.20 million, a PE ratio of 33.48 and a beta of 0.55.

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

Institutional Trading of Coda Octopus Group

An institutional investor recently raised its position in Coda Octopus Group stock. Rice Hall James & Associates LLC grew its holdings in shares of Coda Octopus Group, Inc. (NASDAQ:CODA) by 3.8% in the second quarter, according to its most recent filing with the SEC. The firm 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 about 2.19% of Coda Octopus Group worth $1,473,000 as of its most recent SEC filing. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

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.