Coda Octopus Group (NASDAQ:CODA) Releases Earnings Results, Beats Expectations By $0.02 EPS

Coda Octopus Group (NASDAQ:CODA - Get Free Report) announced its earnings results on Monday. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.02, Zacks reports. The firm had revenue of $7.07 million for the quarter, compared to analysts' expectations of $7.07 million. Coda Octopus Group had a return on equity of 6.37% and a net margin of 15.04%.

Coda Octopus Group Stock Performance

NASDAQ:CODA opened at $8.45 on Monday. The company has a market capitalization of $95.11 million, a price-to-earnings ratio of 28.00 and a beta of 0.60. Coda Octopus Group has a one year low of $5.76 and a one year high of $9.89. The stock has a 50-day simple moving average of $7.82 and a 200 day simple moving average of $7.20.

Analyst Ratings Changes

Several research analysts recently weighed in on CODA shares. Alliance Global Partners reaffirmed a "buy" rating on shares of Coda Octopus Group in a research report on Monday, June 16th. Wall Street Zen lowered Coda Octopus Group from a "buy" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $11.00.

Read Our Latest Analysis on CODA

Hedge Funds Weigh In On Coda Octopus Group

A number of large investors have recently bought and sold shares of CODA. Marshall Wace LLP bought a new stake in shares of Coda Octopus Group during the second quarter valued at approximately $104,000. Jane Street Group LLC acquired a new position in shares of Coda Octopus Group during the second quarter valued at approximately $207,000. Finally, Osaic Holdings Inc. increased its stake in shares of Coda Octopus Group by 18.6% during the second quarter. Osaic Holdings Inc. now owns 79,434 shares of the company's stock valued at $650,000 after acquiring an additional 12,433 shares during the period. Institutional investors own 20.12% of the company's stock.

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.

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