Fintel reports that on September 13, 2023, Alliance Global Partners maintained coverage of Coda Octopus Group (NASDAQ:CODA) with a Buy recommendation.
Analyst Price Forecast Suggests 63.64% Upside
As of August 31, 2023, the average one-year price target for Coda Octopus Group is 12.24. The forecasts range from a low of 12.12 to a high of $12.60. The average price target represents an increase of 63.64% from its latest reported closing price of 7.48.
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The projected annual revenue for Coda Octopus Group is 31MM, an increase of 39.74%. The projected annual non-GAAP EPS is 0.56.
What is the Fund Sentiment?
There are 53 funds or institutions reporting positions in Coda Octopus Group. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to CODA is 0.13%, an increase of 20.17%. Total shares owned by institutions increased in the last three months by 12.85% to 2,439K shares.
What are Other Shareholders Doing?
Tocqueville Asset Management holds 589K shares representing 5.30% ownership of the company. In it's prior filing, the firm reported owning 615K shares, representing a decrease of 4.43%. The firm increased its portfolio allocation in CODA by 1.79% over the last quarter.
Touchstone Capital holds 493K shares representing 4.43% ownership of the company. In it's prior filing, the firm reported owning 332K shares, representing an increase of 32.57%. The firm increased its portfolio allocation in CODA by 59.56% over the last quarter.
Rice Hall James & Associates holds 255K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 246K shares, representing an increase of 3.66%. The firm increased its portfolio allocation in CODA by 16.31% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 223K shares representing 2.00% ownership of the company. No change in the last quarter.
EAM Investors holds 123K shares representing 1.11% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Coda Octopus Group Background Information
(This description is provided by the company.)
Coda Octopus Group Inc., founded in 1994, manufactures and markets patented real-time 3D subsea sonar technology, the Echoscope®, which enables real-time 3D imaging and mapping in zero visibility conditions underwater. Echoscope® is used globally in numerous applications including defense, marine construction, subsea infrastructure installation and surveys, and port and harbor security. In addition to the Marine Products business, Coda Octopus Products Ltd., CODA's two defense products and engineering services businesses are Coda Octopus Colmek and Coda Octopus Martech.
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