Coda Octopus Group, Inc. (NASDAQ:CODA) Short Interest Update

Coda Octopus Group, Inc. (NASDAQ:CODA) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 97,700 shares, a decline of 8.1% from the December 15th total of 106,300 shares. Based on an average daily trading volume, of 49,000 shares, the short-interest ratio is presently 2.0 days. Currently, 1.8% of the shares of the company are sold short.

Institutional Investors 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 holdings in shares of Coda Octopus Group, Inc. (NASDAQ:CODA) by 25.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,388 shares of the company’s stock after buying an additional 62,898 shares during the period. Rice Hall James & Associates LLC owned about 2.75% of Coda Octopus Group worth $2,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 20.12% of the company’s stock.

Coda Octopus Group Price Performance

CODA traded down $0.33 during trading on Friday, reaching $8.14. 36,926 shares of the company’s stock were exchanged, compared to its average volume of 24,399. The company’s fifty day simple moving average is $8.60 and its 200-day simple moving average is $7.80. The stock has a market capitalization of $91.09 million, a P/E ratio of 30.15 and a beta of 0.57. Coda Octopus Group has a 1 year low of $5.21 and a 1 year high of $9.89.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners upped their target price 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 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.