Rice Hall James & Associates LLC Reduces Stake in Coda Octopus Group Inc. (NASDAQ:CODA)

Rice Hall James & Associates LLC lowered its stake in shares of Coda Octopus Group Inc. (NASDAQ:CODA) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 284,201 shares of the company’s stock after selling 14,063 shares during the period. Rice Hall James & Associates LLC owned 2.53% of Coda Octopus Group worth $1,773,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Coda Octopus Group by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 59,424 shares of the company’s stock valued at $465,000 after purchasing an additional 2,054 shares during the period. Dimensional Fund Advisors LP raised its holdings in Coda Octopus Group by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 59,999 shares of the company’s stock valued at $470,000 after acquiring an additional 2,180 shares during the period. Northern Trust Corp boosted its holdings in shares of Coda Octopus Group by 52.9% in the fourth quarter. Northern Trust Corp now owns 38,833 shares of the company’s stock worth $304,000 after acquiring an additional 13,442 shares during the period. Renaissance Technologies LLC boosted its stake in Coda Octopus Group by 137.2% in the 4th quarter. Renaissance Technologies LLC now owns 23,751 shares of the company’s stock worth $186,000 after purchasing an additional 13,737 shares during the period. Finally, Citadel Advisors LLC grew its stake in Coda Octopus Group by 90.1% during the fourth quarter. Citadel Advisors LLC now owns 50,804 shares of the company’s stock valued at $398,000 after acquiring an additional 24,084 shares in the last quarter. Institutional investors own 20.12% of the company’s stock.

Coda Octopus Group Stock Performance

CODA stock opened at $8.32 on Tuesday. The firm has a market cap of $93.43 million, a P/E ratio of 27.73 and a beta of 0.69. The firm’s fifty day moving average is $7.35 and its 200 day moving average is $7.29. Coda Octopus Group Inc. has a 52 week low of $5.76 and a 52 week high of $9.89.

Coda Octopus Group (NASDAQ:CODA) last released its quarterly earnings data on Monday, June 16th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. Coda Octopus Group had a return on equity of 6.37% and a net margin of 15.04%. The firm had revenue of $7.02 million during the quarter, compared to analyst estimates of $6.16 million.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CODA shares. Wall Street Zen upgraded Coda Octopus Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 22nd. Alliance Global Partners reaffirmed a “buy” rating on shares of Coda Octopus Group in a report on Monday, June 16th.

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.