Coda Octopus Group (NASDAQ:CODA) Announces Quarterly Earnings Results

Coda Octopus Group (NASDAQ:CODA) announced its earnings results on Monday. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01, Fidelity Earnings reports. Coda Octopus Group had a return on equity of 15.59% and a net margin of 27.32%.

Shares of CODA opened at $8.90 on Wednesday. The company’s fifty day moving average is $8.92 and its 200 day moving average is $8.60. Coda Octopus Group has a fifty-two week low of $5.15 and a fifty-two week high of $10.17. The stock has a market capitalization of $96.40 million, a PE ratio of 17.80 and a beta of 1.58.

CODA has been the topic of a number of analyst reports. TheStreet raised Coda Octopus Group from a “c+” rating to a “b-” rating in a research report on Thursday, June 24th. Alliance Global Partners reaffirmed a “buy” rating and set a $13.00 price objective (up from $11.00) on shares of Coda Octopus Group in a research report on Monday, June 14th.

In other Coda Octopus Group news, insider Blair Graeme Cunningham sold 7,492 shares of the business’s stock in a transaction on Monday, June 21st. The shares were sold at an average price of $9.49, for a total transaction of $71,099.08. Following the transaction, the insider now owns 27,298 shares in the company, valued at $259,058.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Midgley sold 16,107 shares of the business’s stock in a transaction on Friday, June 18th. The shares were sold at an average price of $9.50, for a total transaction of $153,016.50. Following the sale, the chief financial officer now directly owns 3,000 shares of the company’s stock, valued at $28,500. The disclosure for this sale can be found here. Insiders sold 77,981 shares of company stock worth $716,273 in the last 90 days. 31.50% of the stock is currently owned by company insiders.

About Coda Octopus Group

Coda Octopus Group, Inc engages in designing and manufacturing patented real time 3D sonar solutions. It operates through the following two segments: Marine Technology Business and Marine Engineering Business. The Marine Technology Business segment develops solutions for both commercial and defense subsea market.

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Earnings History for Coda Octopus Group (NASDAQ:CODA)

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