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Jun 19, 2022

Coda Octopus (CODA, $4.89) misses fiscal Q2 earnings expectations

Coda Octopus Group posted its quarterly earnings results that fell short of analysts’ expectations.

The company, which specializes in underwater technologies,  reported earnings of $0.05 per share for the for its second quarter ended April 30, missing analysts’ expectations of $0.08 (Fidelity Earnings reports).

Coda’s revenue fell -7.3% year-over-year to $4.98 million in the quarter.

Annmarie Gayle, CODA’s Chairman and CEO, has indicated that some of the factors which are slowing down the placement of orders by customers, particularly for the  Services Business, include uncertainties due to the supply chain where there is substantial shortage of components and raw materials along with with sharp price rises. This, according to Gayle, leads to delay in the placement of these orders. Gayle  also said that the pandemic has resulted  in delays in receiving orders from Europe, causing a sharp decline in revenues generated from Europe in the period compared to the year-ago quarter.

Coda Octopus Group, Inc, along with  its subsidiaries, sells underwater technologies and equipment for 3D imaging, defense, and survey applications in the Americas, Europe, Australia, Asia, the Middle East, and Africa.

Related Ticker: CODA

CODA's RSI Indicator leaves overbought zone

The 10-day RSI Oscillator for CODA moved out of overbought territory on May 09, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 28 instances where the indicator moved out of the overbought zone. In of the 28 cases the stock moved lower in the days that followed. This puts the odds of a move down at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on May 21, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on CODA as a result. In of 95 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for CODA turned negative on May 13, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 43 similar instances when the indicator turned negative. In of the 43 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where CODA declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

CODA broke above its upper Bollinger Band on April 24, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Bullish Trend Analysis

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 6 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

The 50-day moving average for CODA moved above the 200-day moving average on May 24, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CODA advanced for three days, in of 257 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 164 cases where CODA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. CODA’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.479) is normal, around the industry mean (7.375). P/E Ratio (31.619) is within average values for comparable stocks, (45.122). CODA's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (2.018). CODA has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.016). P/S Ratio (4.117) is also within normal values, averaging (4.925).

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. CODA’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 71, placing this stock worse than average.

Notable companies

The most notable companies in this group are GE Aerospace (NYSE:GE), Lockheed Martin Corp (NYSE:LMT), Boeing Company (NYSE:BA), Northrop Grumman Corp (NYSE:NOC), Spirit Aerosystems Holdings (NYSE:SPR), Virgin Galactic Holdings (NYSE:SPCE).

Industry description

Aerospace & Defense is one of largest industries in the U.S., mainly comprising the following areas: commercial airliners, military aircraft, missiles, space, and general aviation. Focused heavily on research & development, it is also one of the fastest growing industries. Military aircraft has the largest market share in the industry’s sales, followed by space systems, civil aircraft, and missiles. Aerospace exports, directly and indirectly, support more jobs than the export of any other commodity, according to a study by the U.S. Department of Commerce. Boeing Company, Lockheed Martin Corporation and General Electric Company are some of the most prominent players in this space.

Market Cap

The average market capitalization across the Aerospace & Defense Industry is 13.44B. The market cap for tickers in the group ranges from 600 to 183.16B. GE holds the highest valuation in this group at 183.16B. The lowest valued company is EKSN at 600.

High and low price notable news

The average weekly price growth across all stocks in the Aerospace & Defense Industry was 2%. For the same Industry, the average monthly price growth was 29%, and the average quarterly price growth was 61%. HWKE experienced the highest price growth at 249%, while XTIA experienced the biggest fall at -44%.

Volume

The average weekly volume growth across all stocks in the Aerospace & Defense Industry was 22%. For the same stocks of the Industry, the average monthly volume growth was 9% and the average quarterly volume growth was 228%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 48
P/E Growth Rating: 57
Price Growth Rating: 50
SMR Rating: 81
Profit Risk Rating: 71
Seasonality Score: 24 (-100 ... +100)
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General Information

a developer of underwater technologies and 3D subsea technology products

Industry AerospaceDefense

Profile
Fundamentals
Details
Industry
Electronic Components
Address
3300 S Hiawassee Road
Phone
+1 407 735-2406
Employees
83
Web
https://www.codaoctopusgroup.com
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