Coda Octopus Group, Inc. (NASDAQ:CODA) Sees Large Decline in Short Interest

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

Institutional Trading of Coda Octopus Group

An institutional investor recently raised its position in Coda Octopus Group stock. Rice Hall James & Associates LLC increased its position in Coda Octopus Group, Inc. (NASDAQ:CODA) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 244,490 shares of the company’s stock after buying an additional 8,948 shares during the period. Rice Hall James & Associates LLC owned 2.19% of Coda Octopus Group worth $1,473,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 20.12% of the company’s stock.

Coda Octopus Group Stock Performance

Shares of NASDAQ CODA traded down $0.14 during trading on Thursday, hitting $8.42. The company had a trading volume of 45,720 shares, compared to its average volume of 23,806. The business’s 50-day moving average is $7.37 and its 200 day moving average is $6.80. The company has a market cap of $94.09 million, a P/E ratio of 34.08 and a beta of 0.54. Coda Octopus Group has a 52 week low of $5.21 and a 52 week high of $8.83.

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

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.