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

Coda Octopus Group, Inc. (NASDAQ:CODA) saw 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 trading volume of 49,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.8% of the shares of the company are short sold.

Coda Octopus Group Stock Down 3.9 %

Shares of CODA stock traded down $0.33 during mid-day trading on Friday, hitting $8.14. 36,926 shares of the stock were exchanged, compared to its average volume of 24,399. Coda Octopus Group has a 52-week low of $5.21 and a 52-week high of $9.89. The firm has a fifty day moving average of $8.60 and a 200 day moving average of $7.81. The company has a market cap of $91.09 million, a PE ratio of 30.15 and a beta of 0.57.

Institutional Trading of Coda Octopus Group

A hedge fund recently bought a new stake in Coda Octopus Group stock. Wealthquest Corp purchased a new position in Coda Octopus Group, Inc. (NASDAQ:CODA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,603 shares of the company’s stock, valued at approximately $108,000. Wealthquest Corp owned approximately 0.13% of Coda Octopus Group as of its most recent filing with the Securities and Exchange Commission. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners lifted their target price on shares of Coda Octopus Group from $9.00 to $11.00 and gave the company a “buy” rating in a 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.