Coda Octopus Group, Inc. (NASDAQ:CODA) Short Interest Up 10.1% in November

Coda Octopus Group, Inc. (NASDAQ:CODA) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 109,200 shares, a growth of 10.1% from the November 15th total of 99,200 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily trading volume, of 48,200 shares, the days-to-cover ratio is currently 2.3 days.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Coda Octopus Group

An institutional investor recently raised its position in Coda Octopus Group stock. Rice Hall James & Associates LLC increased its stake in shares of Coda Octopus Group, Inc. (NASDAQ:CODA) by 25.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 307,388 shares of the company’s stock after purchasing an additional 62,898 shares during the quarter. Rice Hall James & Associates LLC owned approximately 2.75% of Coda Octopus Group worth $2,229,000 as of its most recent filing with the SEC. Institutional investors own 20.12% of the company’s stock.

Coda Octopus Group Price Performance

NASDAQ CODA traded down $0.23 on Monday, hitting $8.30. 38,489 shares of the stock were exchanged, compared to its average volume of 29,476. The company’s 50-day moving average price is $8.72 and its two-hundred day moving average price is $7.50. Coda Octopus Group has a 52-week low of $5.21 and a 52-week high of $9.89. The company has a market capitalization of $92.88 million, a price-to-earnings ratio of 30.74 and a beta of 0.55.

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

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.