Coda Octopus Group (NASDAQ:CODA) Shares Down 3.2% – Should You Sell?

Coda Octopus Group, Inc. (NASDAQ:CODA) was down 3.2% during trading on Monday . The company traded as low as $9.07 and last traded at $9.16. Approximately 58,693 shares changed hands during trading, an increase of 101% from the average daily volume of 29,136 shares. The stock had previously closed at $9.46.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners raised their price objective on Coda Octopus Group from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, November 11th.

Coda Octopus Group Stock Down 0.3 %

The company has a market capitalization of $101.20 million, a P/E ratio of 33.48 and a beta of 0.55. The company’s 50-day simple moving average is $8.46 and its 200 day simple moving average is $7.35.

Coda Octopus Group (NASDAQ:CODA) last posted its quarterly earnings data on Monday, September 16th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Coda Octopus Group had a return on equity of 5.93% and a net margin of 15.93%. The business had revenue of $5.48 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Coda Octopus Group stock. Rice Hall James & Associates LLC raised its position in Coda Octopus Group, Inc. (NASDAQ:CODA) by 25.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,388 shares of the company’s stock after buying an additional 62,898 shares during the period. Rice Hall James & Associates LLC owned 2.75% of Coda Octopus Group worth $2,229,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 20.12% of the company’s stock.

About Coda Octopus Group

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.