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.
CODA's Aroon Indicator triggered a bullish signal on June 01, 2023. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 180 similar instances where the Aroon Indicator showed a similar pattern. In of the 180 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
The Momentum Indicator moved above the 0 level on May 19, 2023. You may want to consider a long position or call options on CODA as a result. In of 99 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for CODA just turned positive on May 25, 2023. Looking at past instances where CODA's MACD turned positive, the stock continued to rise in of 46 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CODA advanced for three days, in of 252 cases, the price rose further within the following month. The odds of a continued upward trend are .
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 6 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 7 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
CODA broke above its upper Bollinger Band on May 23, 2023. 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.
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 Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. CODA’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 77, placing this stock slightly better than average.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued 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 (2.504) is normal, around the industry mean (25.330). P/E Ratio (27.100) is within average values for comparable stocks, (308.861). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (7.828). CODA has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.023). P/S Ratio (5.426) is also within normal values, averaging (173.758).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating slightly better than average sales and a considerably profitable 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 average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a developer of underwater technologies and 3D subsea technology products
A.I.dvisor tells us that CODA and EH have been poorly correlated (+22% of the time) for the last year. This A.I.-generated data suggests there is low statistical probability that CODA and EH's prices will move in lockstep.
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