Coda Octopus Group (NASDAQ:CODA) Announces Quarterly Earnings Results

Coda Octopus Group (NASDAQ:CODA) announced its quarterly earnings results on Monday. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01, Fidelity Earnings reports. Coda Octopus Group had a net margin of 27.32% and a return on equity of 15.59%.

Shares of NASDAQ:CODA opened at $8.90 on Wednesday. The stock has a market cap of $96.40 million, a PE ratio of 17.80 and a beta of 1.58. The company’s fifty day moving average is $8.92 and its 200 day moving average is $8.60. Coda Octopus Group has a 52 week low of $5.15 and a 52 week high of $10.17.

In other Coda Octopus Group news, major shareholder Niels Sondergaard sold 54,382 shares of the business’s stock in a transaction dated Wednesday, June 23rd. The shares were sold at an average price of $9.05, for a total value of $492,157.10. Following the transaction, the insider now owns 2,263,104 shares in the company, valued at $20,481,091.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Midgley sold 16,107 shares of the business’s stock in a transaction dated Friday, June 18th. The shares were sold at an average price of $9.50, for a total transaction of $153,016.50. Following the completion of the transaction, the chief financial officer now owns 3,000 shares in the company, valued at approximately $28,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,981 shares of company stock worth $716,273. 31.50% of the stock is owned by corporate insiders.

CODA has been the topic of several research reports. TheStreet upgraded shares of Coda Octopus Group from a “c+” rating to a “b-” rating in a research report on Thursday, June 24th. Alliance Global Partners restated a “buy” rating and set a $13.00 price objective (up previously from $11.00) on shares of Coda Octopus Group in a research report on Monday, June 14th.

About Coda Octopus Group

Coda Octopus Group, Inc engages in designing and manufacturing patented real time 3D sonar solutions. It operates through the following two segments: Marine Technology Business and Marine Engineering Business. The Marine Technology Business segment develops solutions for both commercial and defense subsea market.

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Earnings History for Coda Octopus Group (NASDAQ:CODA)

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