Fintel reports that Tocqueville Asset Management has filed a 13G/A form with the SEC disclosing ownership of 0.61MM shares of Coda Octopus Group, Inc. (CODA). This represents 5.7% of the company.
In their previous filing dated February 16, 2021 they reported 0.54MM shares and 5.00% of the company, an increase in shares of 13.05% and an increase in total ownership of 0.70% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 34.83% Upside
As of February 12, 2023, the average one-year price target for Coda Octopus Group is $10.20. The forecasts range from a low of $10.10 to a high of $10.50. The average price target represents an increase of 34.83% from its latest reported closing price of $7.56.
The projected annual revenue for Coda Octopus Group is $31MM, an increase of 40.21%. The projected annual EPS is $0.56, an increase of 41.69%.
What is the Fund Sentiment?
There are 55 funds or institutions reporting positions in Coda Octopus Group. This is an increase of 2 owner(s) or 3.77% in the last quarter. Average portfolio weight of all funds dedicated to CODA is 0.09%, an increase of 20.41%. Total shares owned by institutions increased in the last three months by 3.23% to 2,195K shares.
What are large shareholders doing?
Touchstone Capital holds 344K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 278K shares, representing an increase of 19.16%. The firm increased its portfolio allocation in CODA by 57.25% over the last quarter.
Rice Hall James & Associates holds 238K shares representing 2.17% ownership of the company. In it's prior filing, the firm reported owning 243K shares, representing a decrease of 2.06%. The firm increased its portfolio allocation in CODA by 23.09% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 183K shares representing 1.68% ownership of the company. In it's prior filing, the firm reported owning 184K shares, representing a decrease of 0.05%. The firm increased its portfolio allocation in CODA by 12.52% over the last quarter.
Perritt Capital Management holds 95K shares representing 0.86% ownership of the company. In it's prior filing, the firm reported owning 101K shares, representing a decrease of 6.93%. The firm increased its portfolio allocation in CODA by 6.02% over the last quarter.
Federated Hermes holds 85K shares representing 0.77% ownership of the company. No change in the last quarter.
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.
This story originally appeared on Fintel.
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