Short Interest in Coda Octopus Group, Inc. (NASDAQ:CODA) Expands By 5.9%

Coda Octopus Group, Inc. (NASDAQ:CODA - Get Free Report) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 111,200 shares, a growth of 5.9% from the August 31st total of 105,000 shares. Based on an average trading volume of 24,900 shares, the days-to-cover ratio is presently 4.5 days. Currently, 2.0% of the company's stock are sold short.

Institutional Trading of Coda Octopus Group

An institutional investor recently raised its position in Coda Octopus Group stock. Rice Hall James & Associates LLC grew its holdings in Coda Octopus Group, Inc. (NASDAQ:CODA - Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 244,490 shares of the company's stock after acquiring an additional 8,948 shares during the quarter. 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. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

Coda Octopus Group Price Performance

Shares of CODA stock traded up $0.13 during mid-day trading on Tuesday, hitting $7.38. 16,537 shares of the stock traded hands, compared to its average volume of 23,073. Coda Octopus Group has a 52-week low of $5.21 and a 52-week high of $7.83. The stock has a market cap of $82.58 million, a P/E ratio of 29.52 and a beta of 0.54. The stock's fifty day moving average is $7.17 and its two-hundred day moving average is $6.63.

Coda Octopus Group (NASDAQ:CODA - Get Free Report) last posted its earnings results on Monday, September 16th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. Coda Octopus Group had a net margin of 15.93% and a return on equity of 5.93%. The company had revenue of $5.48 million during the quarter.

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.