Short Interest in Coda Octopus Group, Inc. (NASDAQ:CODA) Declines By 6.7%

Coda Octopus Group, Inc. (NASDAQ:CODA) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 103,800 shares, a drop of 6.7% from the September 15th total of 111,200 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily trading volume, of 26,700 shares, the short-interest ratio is currently 3.9 days.

Coda Octopus Group Stock Performance

Shares of CODA traded down $0.07 during midday trading on Thursday, hitting $8.49. 31,293 shares of the stock were exchanged, compared to its average volume of 23,734. Coda Octopus Group has a 52-week low of $5.21 and a 52-week high of $8.83. The stock has a fifty day simple moving average of $7.37 and a 200 day simple moving average of $6.80. The firm has a market cap of $94.88 million, a P/E ratio of 34.24 and a beta of 0.54.

Coda Octopus Group (NASDAQ:CODA) last released its quarterly earnings results on Monday, September 16th. The company reported $0.11 EPS for the quarter, topping the consensus estimate 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 business had revenue of $5.48 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Coda Octopus Group stock. Rice Hall James & Associates LLC increased its stake in shares of Coda Octopus Group, Inc. (NASDAQ:CODA) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,490 shares of the company’s stock after purchasing an additional 8,948 shares during the quarter. Rice Hall James & Associates LLC owned 2.19% of Coda Octopus Group worth $1,473,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 20.12% of the company’s stock.

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.