Coda Octopus Group (CODA) Set to Announce Quarterly Earnings on Wednesday

Posted by Defense World Staff on Jun 7th, 2023

Coda Octopus Group (NASDAQ:CODA – Get Rating) will be announcing its earnings results before the market opens on Wednesday, June 14th. Investors that are interested in participating in the company’s conference call can do so using this link.

Coda Octopus Group (NASDAQ:CODA – Get Rating) last issued its earnings results on Thursday, March 16th. The company reported $0.12 earnings per share for the quarter. Coda Octopus Group had a return on equity of 10.29% and a net margin of 20.39%. The business had revenue of $5.60 million for the quarter.

Coda Octopus Group Stock Performance

Shares of NASDAQ CODA opened at $10.08 on Wednesday. Coda Octopus Group has a fifty-two week low of $4.75 and a fifty-two week high of $11.09. The firm has a market capitalization of $111.08 million, a PE ratio of 25.85 and a beta of 1.10. The stock’s 50-day simple moving average is $8.61 and its 200-day simple moving average is $7.59.

Insiders Place Their Bets

In other Coda Octopus Group news, insider Blair Graeme Cunningham sold 10,679 shares of Coda Octopus Group stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $8.01, for a total transaction of $85,538.79. Following the transaction, the insider now owns 24,298 shares of the company’s stock, valued at $194,626.98. The transaction was disclosed in a filing with the SEC, which is available at this link. 33.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CODA. Ancora Advisors LLC grew its stake in shares of Coda Octopus Group by 37.1% in the 1st quarter. Ancora Advisors LLC now owns 52,713 shares of the company’s stock valued at $468,000 after purchasing an additional 14,270 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Coda Octopus Group in the 2nd quarter valued at approximately $50,000. Dimensional Fund Advisors LP boosted its stake in shares of Coda Octopus Group by 13.7% in the third quarter. Dimensional Fund Advisors LP now owns 60,227 shares of the company’s stock valued at $325,000 after buying an additional 7,243 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Coda Octopus Group in the fourth quarter valued at approximately $96,000. 17.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on CODA shares. TheStreet raised Coda Octopus Group from a “c+” rating to a “b” rating in a research report on Wednesday, May 3rd. Alliance Global Partners lifted their price target on Coda Octopus Group from $10.00 to $11.00 in a research report on Thursday, March 16th.

Coda Octopus Group Company Profile

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Coda Octopus Group, Inc engages in the developing, manufacturing, and marketing of subsea products. It operates through the Marine Technology Business (Products) and Marine Engineering Business (Services) segments. The Marine Technology Business segment develops solutions for subsea and underwater markets.