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Tuesday, October 2, 2018 Stock Pick

Stock Price: $6.00

Coda Octopus Group, Inc. develops underwater technologies and equipment for imaging, mapping defense and survey applications. It operates through two segments: Marine Technology Business and Marine Engineering Business.

CODA is one of those niche stocks that comes into play in a significant way when a major global event happens that seizes the media's attention. In the case of CODA, it would be an event surrounding the need for technology that allows a clearer picture of a seafloor or other underwater imaging and understanding. CODA calls it "underwater intelligence."

However, CODA is a solid company and doesn't need the sort of major event described above in order to keep climbing. CODA was profitable last quarter ending July 31st with a net income of $1.99 million on revenue of $5.77 million. This is quite an impressive quarter out of CODA. The stock has climbed to a high of $6.89 since and has settled at $6.00 as of this stock pick. CODA has been consolidating at the $6.00 - $6.58 range over the past six trading days.

CODA saw an increase in product orders and strong demand for their patented fourth generation real-time 3D/4D sonars. The company is also seeing backlogs in their engineering division in the defense space. This bodes well that CODA may be able to continue their strong results into future quarters.

CODA's most attractive feature may be that it appears significantly undervalued trading at a market cap of only $62 million and cash of $6.71 million on the balance sheet. Current assets stand at $17.3 million while current liabilities stand at $3.19 million.

CODA has only 4.48 million shares in its float, which can lead to quick, upside surprises on the right news and landscape.

Speculative Score: 3

1 Being the Least Speculative and Most Confident

10 Being the Most Speculative and Possibly the Most Risky

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