YB new stock pitches (Wed, Jan 29)

Coda Octopus Group (CODA), an underwater technology leader, is currently undervalued due to delayed defense contracts caused by international macro pressures and election year spending conventions. The company's proprietary sonar and diver systems, including the Echoscope PIPE, DAVD, and Voice-HUB 4, offer significant growth opportunities and first-mover advantages in emerging applications. CODA's strong ties with the DoD and pivot towards sales focus position it to capture maritime defense tailwinds, potentially leading to multi-year recurring defense contracts. The company operates in two segments: Marine Technology Business (55.7% of revenues) and Marine Engineering Business (44.3% of revenues). Key catalysts include the recovery of the rental business, increased maritime defense spending due to global tensions, and the expansion of the US naval fleet. Risks include delayed product adoption and potential challenges in realizing M&A synergies. With a price target of $23.05, CODA presents an attractive investment opportunity in the underwater technology sector.

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$CLMT management announces loan funding is temporarily on hold to ensure it aligns with White House priorities. However, government officials indicated the hiatus would only last days or weeks. With the stock previously at $22 prior to the announcement of the DOE's loan guarantee closure—a positive development—it has since dipped to $15. A return to $22 represents a +45% potential increase, and expectations are that the actual disbursement of funds within weeks could propel the stock well above that threshold.

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Hut 8 Corp (HUT) and Bitdeer Technologies (BTDR) present attractive investment opportunities in the Bitcoin space. HUT has a $63.50 YE25 target price (120% upside), driven by a 300MW Tier 3 datacenter project in Louisiana, expandable to 1GW, valued at $10m/MW post-PUE. With $800M in cash/BTC, a 230MW Tier 1 pipeline, and 1.5GW exclusivity, HUT's potential is significant. BTDR offers a $50 target price (115% upside), backed by 447MW Ohio sites for HPC, 583MW in Texas, and an ASIC miner business with $2.8bn potential value (assuming 20% of a $6bn market, 30% margin, 10x EPS). Recent developments, including TSMC cutting off Sophgo and U.S. Customs halting Bitmain ASIC imports, could lead to a market share shift in the miner market. BTDR's initial plan to sell 30,000 miner units, worth over $100m, has been fully reserved by customers, indicating strong demand for their products.

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