Coda Octopus Group, Inc. (NASDAQ:CODA) Short Interest Down 6.7% in September

Coda Octopus Group, Inc. (NASDAQ:CODA - Get Free Report) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 103,800 shares, a decrease of 6.7% from the September 15th total of 111,200 shares. Approximately 1.9% of the company's stock are short sold. Based on an average daily volume of 26,700 shares, the days-to-cover ratio is currently 3.9 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Coda Octopus Group stock. Rice Hall James & Associates LLC grew its stake in shares of Coda Octopus Group, Inc. (NASDAQ:CODA - Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 2.19% of Coda Octopus Group worth $1,473,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 20.12% of the company's stock.

Coda Octopus Group Stock Performance

CODA stock traded down $0.09 during trading on Thursday, reaching $8.47. 46,809 shares of the company traded hands, compared to its average volume of 23,812. Coda Octopus Group has a 12 month low of $5.21 and a 12 month high of $8.83. The company has a market capitalization of $94.65 million, a price-to-earnings ratio of 33.88 and a beta of 0.54. The business has a 50 day simple moving average of $7.40 and a 200 day simple moving average of $6.81.

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. The company had revenue of $5.48 million during the quarter. Coda Octopus Group had a net margin of 15.93% and a return on equity of 5.93%.

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.