Coda Octopus Group (NASDAQ:CODA) Price Target Lowered to $10.00 at Alliance Global Partners

Coda Octopus Group (NASDAQ:CODA) had its price target reduced by Alliance Global Partners from $12.00 to $10.00 in a research note issued to investors on Wednesday, Benzinga reports. Alliance Global Partners currently has a buy rating on the stock.

Coda Octopus Group Stock Down 7.7 %

CODA stock opened at $5.85 on Wednesday. The firm has a 50 day moving average of $8.03 and a 200 day moving average of $8.15. The stock has a market capitalization of $65.05 million, a PE ratio of 16.25 and a beta of 1.02. Coda Octopus Group has a 52 week low of $4.95 and a 52 week high of $11.09.

Coda Octopus Group (NASDAQ:CODA) last released its earnings results on Wednesday, September 13th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). Coda Octopus Group had a return on equity of 8.82% and a net margin of 19.83%. The company had revenue of $4.89 million during the quarter.

Hedge Funds Weigh In On Coda Octopus Group

Institutional investors have recently bought and sold shares of the business. Rice Hall James & Associates LLC raised its position in Coda Octopus Group by 3.3% during the 1st quarter. Rice Hall James & Associates LLC now owns 245,668 shares of the company’s stock worth $1,798,000 after buying an additional 7,863 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Coda Octopus Group during the 4th quarter valued at approximately $27,000. Ancora Advisors LLC increased its holdings in shares of Coda Octopus Group by 37.1% during the 1st quarter. Ancora Advisors LLC now owns 52,713 shares of the company’s stock valued at $468,000 after purchasing an additional 14,270 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Coda Octopus Group by 33.4% during the 2nd quarter. Geode Capital Management LLC now owns 54,433 shares of the company’s stock valued at $447,000 after purchasing an additional 13,623 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Coda Octopus Group by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 62,544 shares of the company’s stock valued at $429,000 after purchasing an additional 2,317 shares in the last quarter. 20.20% of the stock is owned by hedge funds and other institutional investors.

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 United States of America and internationally. The company operates through two segments, Marine Engineering Business and Marine Technology Business.