Major Shareholder Offloads Thousands of Coda Octopus Shares!
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Major shareholder Niels Sondergaard sold 56,370 shares of Coda Octopus Group for $462,713. The company reported a 29% revenue increase to $7.1 million in Q3, driven by its Marine Technology business, but faced a 33.2% decline in Marine Engineering revenue. Coda maintains a strong cash position of $26.2 million with no debt. Analysts remain optimistic, rating CODA as an Outperform, citing strong cash flow and profitability despite revenue challenges. The stock shows potential for short-term stability and moderate valuation, making it a reasonable entry point for investors.
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