Coda Octopus Group Down 12.15% To $8.69 After Earnings

Coda Octopus Group, Inc. (CODA) missed earnings estimates for Q2 2023 this morning.



Revenues were downbeat at $0.00. Keep in mind that the revenues reported were on an adjusted basis, so they may not be directly comparable to estimates and prior periods.

The stock is down 12.15% to $8.69 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.

Coda Octopus Group has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 98, putting Coda Octopus Group in the top 25% of stocks. The firm was recently trading at a 52-week high of $11.09 on June 2, 2023 and set a 52-week low on June 22, 2022 at $4.75.

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 Middle East/Africa.