Coda Octopus may be on the verge of a trend line break
Coda Octopus is an underwater engineering company and maker of sonar. that appears on the verge of a trend line break. The stock is down some 60% off its high from May, but has stabilized around 7.50 and appears on the verge of a trend line break. CODA has recently attracted some interest from institutional investors, which helps account for the stabilization.
S&P Capital IQ rates the stock's valuation 90/100, or highly undervalued. It also gives CODA a good score for financial health. Yahoo Finance, which is much more conservative with its valuation ratings, says CODA is "near fair value." CODA has an attractive P/E of about 10, vs. the industry average of about 26. CODA has a 9.7/10 analyst summary score from Thompson Reuters StarMine. Overall, the fundamentals on this stock look as attractive as the technicals do.
S&P Capital IQ rates the stock's valuation 90/100, or highly undervalued. It also gives CODA a good score for financial health. Yahoo Finance, which is much more conservative with its valuation ratings, says CODA is "near fair value." CODA has an attractive P/E of about 10, vs. the industry average of about 26. CODA has a 9.7/10 analyst summary score from Thompson Reuters StarMine. Overall, the fundamentals on this stock look as attractive as the technicals do.
Comment:
CODA broke the trend line today and should be bullish for the medium term!
Comment:
This dipped a little after breaching the trend line, but I bought more once it closed a bar above the line on November 25. That bet is finally paying off today!
Comment:
CODA still has a really nice P/E, but the price-to-book ratio is looking a little high, the analyst score has declined to 7.8/10, and I don't have a good sense of the earnings outlook because there's not a lot of analyst coverage. If it shows any sign of breaking support here, I'd take profit. It's been a great 10+% run.