Coda Octopus Group (NASDAQ:CODA) Major Shareholder John Steven Emerson Sells 86,254 Shares

Coda Octopus Group Inc. (NASDAQ:CODA) major shareholder John Steven Emerson sold 86,254 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $14.95, for a total value of $1,289,497.30. Following the completion of the sale, the insider owned 5,286 shares of the company’s stock, valued at $79,025.70. The trade was a 94.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Coda Octopus Group Stock Performance

Shares of CODA stock traded down $0.68 on Monday, reaching $12.59. 160,024 shares of the company’s stock traded hands, compared to its average volume of 258,453. The company has a market capitalization of $142.02 million, a P/E ratio of 34.97 and a beta of 0.54. Coda Octopus Group Inc. has a 12-month low of $5.97 and a 12-month high of $17.28. The business’s 50 day moving average price is $13.07 and its two-hundred day moving average price is $10.77.

Coda Octopus Group (NASDAQ:CODA) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. Coda Octopus Group had a return on equity of 7.17% and a net margin of 14.78%.The firm had revenue of $6.71 million during the quarter, compared to the consensus estimate of $6.23 million.

Analyst Upgrades and Downgrades

CODA has been the subject of several research reports. Alliance Global Partners restated a “buy” rating on shares of Coda Octopus Group in a report on Monday, February 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Coda Octopus Group in a research report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Coda Octopus Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rothschild Wealth LLC acquired a new stake in shares of Coda Octopus Group during the 4th quarter valued at about $625,000. Dimensional Fund Advisors LP grew its stake in shares of Coda Octopus Group by 2.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 61,561 shares of the company’s stock valued at $494,000 after buying an additional 1,562 shares in the last quarter. State Street Corp increased its holdings in Coda Octopus Group by 6.3% in the fourth quarter. State Street Corp now owns 33,903 shares of the company’s stock worth $315,000 after buying an additional 2,000 shares during the last quarter. Essex Investment Management Co. LLC raised its position in Coda Octopus Group by 61.4% during the fourth quarter. Essex Investment Management Co. LLC now owns 23,299 shares of the company’s stock valued at $217,000 after acquiring an additional 8,865 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Coda Octopus Group during the second quarter valued at approximately $207,000. 20.12% of the stock is owned by institutional investors and hedge funds.

Coda Octopus Group Company Profile

Coda Octopus Group, Inc is a technology company that develops and sells real-time 3D sonar systems and related solutions for underwater applications. Its flagship Echoscope® real-time 3D sonar system enables clients to visualize subsea structures and seabed conditions in unprecedented detail. The company’s product portfolio also includes BathyCORR® geophysical survey processing software, a range of ROV and USV inspection tools, and advanced subsea positioning and motion reference units. These technologies support tasks such as inspection, maintenance, salvage, survey, and security in challenging marine environments.

The company serves a broad set of industries, including offshore oil and gas, marine mining, defense, civil engineering, telecommunications, and scientific research.