CODA Stock Summary and Trading Ideas (Coda Octopus Group | NASDAQ:CODA)

Coda Octopus Group Inc develops underwater technologies and equipment for imaging, mapping defense, and survey applications. It operates in two segments: Marine Technology Business and Marine Engineering Business. The Technology Business develops proprietary solutions for both the commercial and defense subsea market. Its solutions include hardware and software for Geophysical Systems, Motion & Positioning Systems, and Real-Time Volumetric Imaging Sonar. The Engineering Business segment provides engineering services to a range of clients in the defense markets. Its geographical segments are the Americas, Europe, Australia/Asia, and the Middle East/Africa. The majority of revenue is derived from the Marine Technology Business segment.

Coda Octopus Group trades on the NASDAQ stock market under the symbol CODA.

As of April 19, 2024, CODA stock price climbed to $6.03 with 11,758 million shares trading.

CODA has a beta of -0.02, meaning it tends to be less sensitive to market movements. CODA has a correlation of 0.00 to the broad based SPY ETF.

CODA has a market cap of $67.32 million. This is considered a Micro Cap stock.

Last quarter Coda Octopus Group reported $4 million in Revenue and $.06 earnings per share. This beat revenue expectation by $471,000 and exceeded earnings estimates by $.05.

In the last 3 years, CODA stock traded as high as $11.09 and as low as $4.75.

The top ETF exchange traded funds that CODA belongs to (by Net Assets): VTI, VXF, IWC, DFAC, DFUS.

CODA has underperformed the market in the last year with a price return of -24.8% while the SPY ETF gained +21.2%. CODA has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -8.9% and -7.2%, respectively, while the SPY returned +4.3% and -3.5%, respectively.

CODA support price is $5.79 and resistance is $6.21 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CODA stock will trade within this expected range on the day.