StockNews.com Downgrades Innodata (NASDAQ:INOD) to Sell

Innodata (NASDAQ:INODGet Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Several other brokerages have also recently weighed in on INOD. BWS Financial raised their price target on shares of Innodata from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Maxim Group began coverage on shares of Innodata in a research note on Monday, July 15th. They set a “buy” rating and a $30.00 price target for the company.

Check Out Our Latest Stock Analysis on INOD

Innodata Price Performance

NASDAQ INOD opened at $16.43 on Monday. The business has a 50 day simple moving average of $16.37 and a 200 day simple moving average of $11.28. Innodata has a 52-week low of $5.46 and a 52-week high of $21.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market cap of $472.41 million, a price-to-earnings ratio of 273.83 and a beta of 2.33.

Hedge Funds Weigh In On Innodata

Several hedge funds and other institutional investors have recently made changes to their positions in INOD. nVerses Capital LLC bought a new position in shares of Innodata in the second quarter valued at $27,000. Montag A & Associates Inc. bought a new position in shares of Innodata in the fourth quarter valued at $33,000. Victory Capital Management Inc. bought a new position in shares of Innodata in the fourth quarter valued at $53,000. Elkhorn Partners Limited Partnership bought a new position in shares of Innodata in the first quarter valued at $94,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Innodata by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after buying an additional 982 shares in the last quarter. 30.75% of the stock is owned by institutional investors.

Innodata Company Profile

(Get Free Report)

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.

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