Coda Octopus Group (NASDAQ:CODA) Lowered to “Hold” at ValuEngine

Coda Octopus Group (NASDAQ:CODA) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, ValuEngine reports.

NASDAQ:CODA opened at $7.04 on Friday. The business’s 50-day moving average is $7.59 and its two-hundred day moving average is $8.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.07 and a quick ratio of 6.28. Coda Octopus Group has a 12 month low of $6.05 and a 12 month high of $19.20. The firm has a market capitalization of $73.77 million, a PE ratio of 14.37 and a beta of 1.97.

Coda Octopus Group (NASDAQ:CODA) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.18). Coda Octopus Group had a net margin of 20.86% and a return on equity of 18.38%. The company had revenue of $5.85 million during the quarter.

A number of large investors have recently added to or reduced their stakes in CODA. Northern Trust Corp purchased a new stake in shares of Coda Octopus Group in the 2nd quarter valued at about $181,000. BlackRock Inc. lifted its holdings in shares of Coda Octopus Group by 2,974.1% in the 2nd quarter. BlackRock Inc. now owns 344,727 shares of the company’s stock valued at $4,499,000 after purchasing an additional 333,513 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Coda Octopus Group by 606.8% in the 2nd quarter. Vanguard Group Inc. now owns 231,456 shares of the company’s stock valued at $3,020,000 after purchasing an additional 198,711 shares during the last quarter. Morgan Stanley purchased a new stake in shares of Coda Octopus Group in the 2nd quarter valued at about $223,000. Finally, Essex Investment Management Co. LLC lifted its holdings in shares of Coda Octopus Group by 356.5% in the 3rd quarter. Essex Investment Management Co. LLC now owns 209,585 shares of the company’s stock valued at $1,721,000 after purchasing an additional 163,678 shares during the last quarter. 20.62% of the stock is currently owned by institutional investors.

About Coda Octopus Group

Coda Octopus Group, Inc, together with its subsidiaries, develops and sells underwater technologies and equipment for imaging, mapping, defense, and survey applications in the United States, Europe, and Australia. The company operates through two segments, Marine Engineering Business and Marine Technology Business.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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