Coda Octopus Group (NASDAQ:CODA) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Coda Octopus Group (NASDAQ:CODA) posted its quarterly earnings data on Monday. The company reported $0.13 EPS for the quarter, topping the 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 CODA stock opened at $8.90 on Wednesday. The company has a 50-day moving average of $8.92 and a two-hundred day moving average of $8.60. Coda Octopus Group has a 1-year low of $5.15 and a 1-year high of $10.17. The firm has a market cap of $96.40 million, a PE ratio of 17.80 and a beta of 1.58.

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

In other Coda Octopus Group news, insider Blair Graeme Cunningham sold 7,492 shares of the business’s stock in a transaction on Monday, June 21st. The shares were sold at an average price of $9.49, for a total transaction of $71,099.08. Following the sale, the insider now directly owns 27,298 shares in the company, valued at approximately $259,058.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Midgley sold 16,107 shares of Coda Octopus Group stock in a transaction on Friday, June 18th. The stock was sold at an average price of $9.50, for a total value of $153,016.50. Following the transaction, the chief financial officer now directly owns 3,000 shares of the company’s stock, valued at approximately $28,500. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,981 shares of company stock worth $716,273. 31.50% of the stock is owned by corporate insiders.

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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