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

Coda Octopus Group, Inc. (NASDAQ:CODA) was the target of a significant decrease in short interest during the month of 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. Based on an average trading volume of 49,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

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

Coda Octopus Group Price Performance

NASDAQ:CODA opened at $8.14 on Monday. The company has a market capitalization of $91.09 million, a price-to-earnings ratio of 30.15 and a beta of 0.57. The business has a 50 day moving average of $8.60 and a 200 day moving average of $7.82. Coda Octopus Group has a 1-year low of $5.21 and a 1-year high of $9.89.

About Coda Octopus Group

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.